Microsoft delivers Q2 beat, but soft Azure growth weighs

Investing.com -- Microsoft fell in afterhours trading Wednesday after the tech giant's fiscal second-quarter results beat Wall Street estimates, but growth in its key cloud business fell short of expectations.

Microsoft Corporation (NASDAQ: MSFT) fell more than 3% in afterhours trading following the report.

For the three months ended Dec. 31, the company announced earnings of $3.23 a share on revenue of $69.63 billion. Analysts polled by Investing.com anticipated per-share income of $3.13 on revenue of $68.92B.

Revenue at Azure and other cloud services grew 31% from a year earlier, slowing from the 33% in growth seen in Q1, missing analyst estimates of 31.9%. About 13% of the growth came from AI.

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