Microsoft earnings (NASDAQ:MSFT) were unveiled late in the day on Wednesday and the company posted mixed results, which included earnings that topped Wall Street’s guidance and revenue that was below the mark, sending MSFT stock dipping after hours.
The tech giant said that for its second quarter of its fiscal 2018, earnings tallied up to $1.10 per share on an adjusted basis. Wall Street said that it projected the Washington-based company to raked in an adjusted profit of $1.09 per share, according to a survey compiled by Refinitiv.
Microsoft added that its revenue for the period was higher at $32.47 billion, marking a 12% increase from its year-ago quarter. Analysts were forecasting the tech company to bring in sales of $32.51 billion, according to data compiled by Refinitiv.
The company also said that revenue for its Azure cloud segment, an integral part of its business over the last decade, was up by 76% year-over-year, but it was flat when compared to the previous quarter. Microsoft said its Commercial Cloud category brought in $9 billion in revenue, a 48% surge compared to the year-ago quarter.
The software maker’s More Personal Computing segment, which includes gaming, search advertising and Windows products — brought in $12.99 billion in sales, below the FactSet outlook of $13.08 billion.
MSFT stock took a hit of roughly 2.1% late in the day on Wednesday following the company’s quarterly earnings results, despite an earnings beat. Shares had been surging roughly 3.3% during regular trading hours ahead of the company’s results.
