Microsoft's cloud business only slightly missed expectations, causing Wall Street to sell off
2024-07-30 20:23:15
Microsoft cloud business only less than expected Wall Street large sum sell offdesk3cryptocurrencydesktopCrypto News
On July 31st, Microsoft (MSFT. O) 's Q4 cloud business revenue for fiscal year 2024 was $36.80 billion, the market expected $36.84 billion, the intelligent cloud business revenue was $28.50 billion, and the market expected $28.72 billion. Analyst Sebastian Boyd said Microsoft fell more than 7% after hours after the company reported earnings per share slightly above market expectations of 0.4%, while long-awaited cloud computing revenue was slightly below market expectations of 0.1%. Now the audience for technology stocks is very demanding, and it is clear that traders are not impressed. Amazon (AMZN. O) and other cloud computing companies followed suit.
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