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Microsoft Stock Drops 6.8% After Hours Despite Earnings Beat
Microsoft Stock Drops 6.8% After Hours Despite Earnings Beat
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Microsoft's Q2 earnings outperformed analyst expectations, reporting $4.14 per share on $81.3 billion revenue against estimates of $3.91 per share and $80.3 billion. Azure cloud revenue grew 39%, slightly above Wall Street's 37.8% projection, though growth decelerated from the previous quarter's 40%.
Capital expenditures surged 66% year-over-year to $37.5 billion, primarily allocated to computing chips for AI infrastructure. The company disclosed 15 million annual users for its M365 Copilot, a $30 per month AI assistant for businesses.
Despite these strong metrics, shares fell 6.8% in after-hours trading. Market concerns centered on rising costs and competitive pressures from Google's Gemini, overshadowing the earnings beat.
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