Updated 12:12 IST, January 30th 2025
Microsoft Spending Grows Despite Cloud Growth Missing Estimates - Details
According to data from Visible Alpha, the software giant's capital expenditures hit $22.6 billion, almost 2 Bn USD above analysts' consensus estimate of $20.95
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Microsoft reported slower-than-expected growth in its Azure cloud business on Wednesday, January 29, despite beating estimates for overall quarterly revenue, sending its shares down 4 per cent in extended trading, Reuters reported.
Microsoft's Growth In Numbers
Microsoft's cloud unit Azure reported revenue growth of 31 per cent in the quarter, missing Visible Alpha estimates of 31.8 per cent.
According to data from Visible Alpha, the software giant's capital expenditures hit $22.6 billion, almost 2 Bn USD above analysts' consensus estimate of $20.95 billion.
Azure's Developments
Microsoft said earlier on Wednesday, January 29, it had added DeepSeek, the breakout Chinese artificial intelligence model, to its offerings on Azure.
At Azure Platform, which is Microsoft's Intelligent Cloud unit, revenue rose to $25.54 billion, below the expected $25.76 billion, Reuters reported.
According to data compiled by LSEG, the total revenue rose by 12 per cent to $69.6 billion in the fiscal second quarter ended December, 2024. The analysts' average estimate was $68.78 billion.
Redmond, Washington-based Microsoft branch reported a profit of $3.23 per share, beating expectations of $3.11 per share, Reuters reported.
Microsoft shares closed at 442.33 USD, down by USD 4.87 or 1.09 per cent in the wall street.
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Published 08:19 IST, January 30th 2025