Zinger Key Points
- Microsoft reports second-quarter revenue of $62 billion, up 18% year-over-year.
- Microsoft Cloud revenue totals $33.7 billion, up 24% year-over-year across all segments.
- Discover Fast-Growing Stocks Every Month
Technology giant Microsoft Corporation MSFT reported second-quarter financial results after the market close Tuesday.
Here are the key highlights.
Microsoft’s Q2 Headline Numbers: Microsoft reported second-quarter revenue of $62 billion, which was up 18% year-over-year. The revenue total beat a Street consensus estimate of $61.12 billion, according to data from Benzinga Pro.
The company reported adjusted earnings per share of $2.93, which beat a Street consensus estimate of $2.76.
The second quarter saw the company complete its acquisition of video game company Activision Blizzard, which is now part of Microsoft's More Personal Computing segment.
"We've moved from talking about AI to applying AI at scale," Microsoft CEO Satya Nadella said. "By infusing AI across every layer of our tech stack, we're winning new customers and helping drive new benefits and productivity gains across every sector."
Related Link: Microsoft Q2 Earnings Preview: Artificial Intelligence, Gaming, More Key Items To Watch
Microsoft Segment Results: Microsoft said its Microsoft Cloud revenue was $33.7 billion, which was up 24% year-over-year across all segments.
Here's a look at Microsoft's revenue by reporting segment:
Productivity and Business Processes: $19.2 billion, +13% year-over-year.
Intelligent Cloud: $25.9 billion, +20% year-over-year.
More Personal Computing: $16.9 billion, +19% year-over-year.
The company said Office Commercial products and cloud services revenue rose 15% year-over-year.
Xbox content and services revenue was up 61% year-over-year with the acquisition of Activision adding 55 points to the results.
The company will provide guidance during its conference call, which can be watched below.
MSFT Price Action: Microsoft shares are down 1% to $406.44 in after-hours trading Tuesday versus a 52-week trading range of $242.20 to $409.98.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
