Microsoft shares gain 4% on Q2 EPS beat

January 24, 2023 4:24 PM EST

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Microsoft (NASDAQ: MSFT) shares surged more than 4% after-hours following the company’s reported Q2 results, with EPS of $2.32 coming in better than the consensus estimate of $2.30.

Revenue grew 2% year-over-year to $52.7 billion, missing the consensus estimate of $53.12 billion.

“Microsoft Cloud revenue was $27.1 billion, up 22% (up 29% in constant currency) year-over-year as our commercial offerings continue to drive value for our customers,” said Amy Hood, executive vice president and CFO of Microsoft.

Revenue in Productivity and Business Processes grew 7% (up 13% in constant currency) to $17.0 billion. Revenue in Intelligent Cloud grew 18% (up 24% in constant currency) to $21.5 billion, while revenue in More Personal Computing dropped 19% (down 16% in constant currency) to $14.2 billion.

By Davit Kirakosyan

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