Proactive Investors - Microsoft Corp (NASDAQ:MSFT) reported fiscal fourth quarter revenues and profits ahead of Street estimates but a Cloud revenue miss saw its shares tumble more than 5% after Tuesday’s closing bell.
Intelligent Cloud revenue, which includes Microsoft's Azure Cloud computing platform, was $28.5 billion, up 19% year-over-year but short of estimates of $28.7 billion.
Azure revenue rose 29%, less than the 30.6% growth expected.
For Q4, revenue of $64.5 billion was above the $64.2 billion expected by analysts and earnings per share (EPS) of $2.95 topped the $2.94 consensus.
Microsoft reported EPS of $11.80 on revenue of $245.1 billion for fiscal 2024, topping estimates of $11.77 and $244.4 billion, respectively.
“Our strong performance this fiscal year speaks both to our innovation and to the trust customers continue to place in Microsoft," Microsoft CEO Satya Nadella said in a statement accompanying the company’s results.
“As a platform company, we are focused on meeting the mission-critical needs of our customers across our at-scale platforms today, while also ensuring we lead the AI era.”
Microsoft shares fell 5.6% to $399 post-earnings.