Company news: Microsoft’s (MSFT) quarterly results solidly beat analysts’ estimates

Microsoft (MSFT) reported Q2 FY2024 earnings of $2.93 per share (versus $2.32 per share in Q2 FY2023), strongly beating analysts’ consensus estimate of $2.77 per share.

The company’s quarterly revenues amounted to $62.020 bln (+17.6% y/y), beating analysts’ consensus estimate of $61.141 bln.

For the Q3 FY2024, the company guided to revenues of $19.3-19.6 bln (+10%-12%) for its Productivity and Business Processes business, $26.0-26.3 bln (+18%-19%) for its Intelligent Cloud unit, which includes Azure, and $14.7-15.1 bln (+11%-14%) for More Personal Computing segment. Separately, the company noted that Q3 FY2024 revenue growth in Azure is expected to be stable to Q2 FY2024 in constant currency.

Overall, Microsoft's revenue guidance for Q3 FY2024 calculates to $60.00-61.00 bln versus analysts’ consensus estimate of $60.97 bln.

MSFT fell to $402.69 (-1.44%) in pre-market trading.