Software giant Microsoft Corp. (NASDAQ: MSFT) on Tuesday reported higher revenues and earnings for the second quarter of 2022. The results also topped expectations.
At $51.7 billion, second-quarter revenues were up 20% from the comparable period of last year and above analysts’ forecast. Server products and cloud services revenue advanced 29%, with Azure and other cloud services revenue growing 46%.
Net income came in at $18.7 billion or $2.47 per share in the December-quarter, compared to $15.4 billion or $2.03 per share in the second quarter of 2021. The bottom-line also came in above estimates.
Microsoft’s shares dropped on Tuesday evening following the earnings announcement, after closing the regular session lower.
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