Microsoft posted mixed results in its earnings call on Tuesday.
The company reported better-than-expected earnings per share but
revenue fell short of forecasts as the tech giant had to absorb the cost
of its latest round of layoffs.
More:
- Microsoft's earnings stood at $2.32 per share, surpassing expectations of $2.29 per share.
- The company posted revenue of $52.75B, which fell short of the $52.94B expected by analysts.
- Management issued downbeat guidance for the current quarter, forecasting revenue in the range of $50.5B to $51.5B.
- Microsoft’s
Intelligent Cloud unit brought in revenue of $21.51B, representing 18%
growth year over year and beating expectations of $21.44B.
- Microsoft finance chief Amy Hood warned of slowing growth in the company's Azure cloud services business in the current quarter.
- Microsoft's recent decision to lay off 10,000 employees cost the company $1.2B last quarter, including $800M in severance costs.
