Microsoft Earnings: Stock Tanks As AI Business Growth Worse Than Expected

Category: Business

Microsoft reported strong earnings with $2.95 diluted earnings per share and $64.7 billion in quarterly sales, but shares fell about 7% due to disappointing growth in its AI business. Despite record revenue and net income for the fiscal year, the market reacted negatively, similar to trends seen with other tech giants like Alphabet. Analysts predict a close competition between Microsoft and Apple in profitability by 2026.

Keywords: Microsoft, earnings report, artificial intelligence

Source: Forbes

Update At: 7/31/2024

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