Microsoft delivered an overall strong quarter after Tuesday's market close, but a miss on Azure revenue growth put shares under pressure in extended-hours trading.
Office Consumer Products and Cloud Services revenue grew 3% as Microsoft 365 Consumer subscriptions grew 10% to 82.5 million.
Windows Commercial Products and Cloud Services revenue increased 11%, driven by demand for Microsoft 365.
Despite the solid fiscal Q1 outlook for Intelligent Cloud revenue, management guided Azure's constant currency revenue growth to 28% to 29%.
Microsoft CEO Satya Nadella speaks during the Microsoft Build conference at Microsoft headquarters in Redmond, Washington, on May 21, 2024.
Persons:
We're, Satya Nadella, Nadella, Amy Hood, Hood, That's, Jim Cramer's, Jim Cramer, Jim, Jason Redmond
Organizations:
Microsoft, Revenue, Nvidia, Broadcom, Devices, AMD, Investors, Products, Cloud Services, Consumer Products, Dynamics Products, Enterprise Mobility, Activision, Windows, —, Xbox, Management, CNBC, AFP, Getty
Locations:
OpenAI, pare, Redmond , Washington