Microsoft slows growth of cloud service “Azure” - stock price falls
July 31, 2024 5:28 JST
In the April-June (fourth quarter) financial results announced by Microsoft in the US on the 30th, the rate of increase in sales of the cloud service “Azure (Azure)” slowed on a quarterly basis. Investors who were expecting the results of huge investments in artificial intelligence (AI) products were disappointed, and stock prices fell.
Total sales for the April-June period increased 15% to 64.7 billion dollars (approximately 9.900 trillion yen). Adjusted earnings per share were $2.95. According to the average analyst forecast, sales were expected to be 64.5 billion dollars, and earnings per share were expected to be 2.94 dollars.
Azure's sales for the April-June fiscal year increased 29%, and growth decelerated from a 31% increase in the previous fiscal year.
In the April-June (fourth quarter) financial results announced by Microsoft in the US on the 30th, the rate of increase in sales of the cloud service “Azure (Azure)” slowed on a quarterly basis. Investors who were expecting the results of huge investments in artificial intelligence (AI) products were disappointed, and stock prices fell.
Total sales for the April-June period increased 15% to 64.7 billion dollars (approximately 9.900 trillion yen). Adjusted earnings per share were $2.95. According to the average analyst forecast, sales were expected to be 64.5 billion dollars, and earnings per share were expected to be 2.94 dollars.
Azure's sales for the April-June fiscal year increased 29%, and growth decelerated from a 31% increase in the previous fiscal year.
Microsoft's stock price temporarily fell by about 7% due to overtime trading.
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