Market watchers forecast earnings of $1.26 per share for Q3, compared to $1.22 per share in the prior-year quarter. It is estimated that third-quarter revenues decreased modestly to $12.16 billion. For the whole of fiscal 2024, the management targets capital spending of around $8 billion, with a large portion of that expected in the second half.
In the second quarter, earnings beat estimates for the fifth time in a row, while revenues missed. A double-digit revenue growth in the core cloud services division more than offset declines in the other segments, resulting in a 5% growth in Q2 revenues to about $13 billion. There was an 11% increase in adjusted earnings to $1.34 per share during the three months.