Microsoft announced quarterly earnings on Tuesday that met revenue expectations, but missed on earnings. The company’s shares initially fell in after-hours trading but rebounded to trade slightly higher.
The company reported $23.38 billion in revenue and earnings per share of $0.55. Analysts had been expecting around $23 billion in revenue and earnings of about $0.60 per share
The report is Satya Nadella’s second as CEO of Microsoft after taking the top job in February, having led the company’s cloud and enterprise side.
Among the bright spots fro Microsoft, advertising revenue from the company’s Bing search engine grew 40% and its overall share of U.S. search rose 19.2%. Revenue from Microsoft’s cloud division, which has been of particular focus for the company, jumped 147%. …