Microsoft posts Q4 beat on top and bottom line on cloud, AI strength
Microsoft (MSFT) reported its fiscal fourth quarter earnings on Wednesday, beating analysts' expectations on the top and bottom lines on the strength of its cloud revenue.
"Cloud and AI is the driving force of business transformation across every industry and sector," Microsoft CEO Satya Nadella said in a statement.
“We’re innovating across the tech stack to help customers adapt and grow in this new era, and this year, Azure surpassed $75 billion in revenue, up 34%, driven by growth across all workloads.”
For the quarter, Microsoft saw adjusted earnings per share (EPS) of $3.65 on revenue of $76.4 billion. Wall Street was anticipating adjusted EPS of $3.37 and revenue of $73.89 billion, according to Bloomberg analyst consensus estimates. The company saw adjusted EPS of $2.95 and revenue of $64.72 billion in the same period last year.
Intelligent Cloud segment revenue, which includes Microsoft’s Azure business, topped out at $29.8 billion. Analysts were looking for $29.09 billion. Still, the company says demand continues to outstrip capacity.
