Microsoft Fell Nearly 4% in Morning Trading After Reporting Slowing Revenue Growth Within Its Cloud Business
Tiger Newspress2023-07-26
Microsoft fell nearly 4% in morning trading.
It reported slowing revenue growth within its cloud business during its fiscal fourth quarter and called for lower-than-expected guidance. Microsoft, however, did beat Wall Street’s estimates, reporting earnings of $2.69 per share on $56.19 billion in revenue. Analysts polled by Refinitiv anticipated earnings per share of $2.55 on revenue of $55.47 billion.
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