Microsoft reported a strong earnings and revenue beat for the fiscal first quarter. Revenue increased 16% yearly, with net income rising 11%. However, the stock slid 4% in extended trading due to a slower growth forecast, below analysts’ expectations. Delays from outside suppliers in delivering data center infrastructure will prevent Microsoft from meeting demand in the fiscal second quarter. Azure revenue growth reached 33%, driven partly by AI services. Microsoft’s AI investments and infrastructure spending are key focus areas for investors.
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00:00It's Benzinga bringing Wall Street to Main Street.
00:02Microsoft reported a strong earnings and revenue beat for the fiscal first quarter.
00:07Revenue increased 16% year-over-year with net income rising 11%.
00:11However, the stock slid 4% in extended trading due to a slower growth forecast below
00:17analysts' expectations. Delays from outside suppliers and delivering data center infrastructure
00:22will prevent Microsoft from meeting demand in the fiscal second quarter.
00:26Azure revenue growth reached 33%, driven partly by AI services.
00:31Microsoft's AI investments and infrastructure spending are key focus areas for investors.
00:36For all things money, visit Benzinga.com.