Technology giant Microsoft Corporation
What Happened: Microsoft reported fourth-quarter revenue of $56.2 billion, which was up 8% year-over-year. The revenue total beat a Street consensus estimate of $55.47 billion, according to data from Benzinga Pro.
The company reported earnings per share of $2.69, which were ahead of a Street estimate of $2.55.
Revenue by segment:
- Productivity and Business Processes: $18.3 billion, +10% year-over-year
- Intelligent Cloud: $24 billion, +15% year-over-year
- More Personal Computing: $13.9 billion, -4% year-over-year.
Other items highlighted included Office Commercial products and cloud services revenue rising 12% year-over-year, Dynamics 365 revenue jumping 26% year-over-year, Azure and cloud services revenue advancing 26% year-over-year and server products and cloud services increasing 17% year-over-year.
In the More Personal Computing segment, Windows OEM revenue was down 12% year-over-year and Xbox revenue was up 5% year-over-year. Search and news advertising revenue was up 8% year-over-year.
"Organizations are asking not only how - but how fast - they can apply this next generation of AI to address the biggest opportunities and challenges they face - safely and responsibly," Microsoft CEO Satya Nadella said.
For the full fiscal year, revenue for Microsoft hit $211.9 billion, which was up 7% year-over-year.
What's Next: Microsoft did not provide guidance in its earnings release and said it will offer it during its conference call, which can be found at the link below.
"We remain focused on leading the new AI platform shift, helping customers use the Microsoft Cloud to get the most value out of their digital spend and driving operating leverage," Nadella said.
MSFT Price Action: Microsoft shares are down 1.66% to $345.14 in after-hours trading versus a 52-week trading range of $213.46 to $366.78.
