Software giant Microsoft (MSFT), exceeded analysts’ predictions for per-share earnings in the second quarter of its fiscal year. However, its revenue was slightly lower than anticipated. The company reported adjusted earnings of $2.32 per share and revenue of $52.75 billion, while analysts’ predictions, according to Refinitiv, were $2.29 per share and $52.94 billion.
Microsoft’s shares initially rose in after-hours trading following the release of their financial results, but then fell due to the company’s unimpressive guidance during their earnings call.
During a conference call with analysts, CEO Satya Nadella informed that the technology company experienced a decline in its core Windows and Office areas towards the end of 2022.