MS Earnings Beat Expectations... Up 0.16% in After-Hours Trading
Microsoft (MS), a leader in the artificial intelligence (AI) market, reported fourth-quarter results that exceeded market expectations.
On the 30th (local time), MS announced its earnings after the market closed, revealing that its revenue for the second quarter of fiscal year 2024 (October to December of last year) reached $62.02 billion, a 17.6% increase compared to the same period last year.
Net income was $21.87 billion, up 33% year-over-year. Earnings per share (EPS) rose to $2.93 from $2.20 a year earlier.
Both MS's revenue and net income surpassed market forecasts. Initially, the market had expected revenue of $61.12 billion and an EPS of $2.78.
MS's Intelligent Cloud segment, including the AI-focused Azure cloud services, saw revenue grow by 30%.
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MS's stock price rose 0.16% in after-hours trading.
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