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Microsoft (NASDAQ:MSFTShares of ) rose 5% in after-hours trading Tuesday as the software giant reported fiscal second-quarter earnings that beat expectations and sales of Office and cloud products and services rose from the previous quarter. last year.
For the quarter ended December 31, Microsoft (MSFT) said it earned $2.32 per share, excluding one-time items, on revenue of $52.7 billion. Wall Street analysts had forecast the company to earn $2.31 a share on $53.2 billion in revenue. While Microsoft (MSFT) sales fell just below expectations, revenue was up 2% from a year earlier.
Among its individual business areas, Microsoft (MSFT) said Intelligent Cloud revenue rose to $21.5 billion, up 18% from a year ago, while Productivity and Business Process sales, which include commercial and consumer products Office and cloud services increased 7%. from the same period in 2021, to $17 billion.
More Personal Computing revenue, which includes Windows, Xbox and other products and services, fell 19% from a year earlier to $14.2 billion.
Chief Executive Satya Nadella hinted at where Microsoft (MSFT) is likely to put some of its attention in the coming years, saying in a statement that the company was developing platforms and tools so its customers could “do more with less.” today”. and innovate for the future in the new era of AI”.
That AI comment should come as no surprise, as Microsoft (MSFT) confirmed on Monday that it has made a “multi-million dollar” investment in OpenAI, the developer of ChatGPT.
