Satya Nadella, chief executive officer of Microsoft Corp., speaks during the Viva Technology conference in Paris, France, on Thursday, May 24, 2018. Viva Tech, a three-year-old event for startups, gathers global technology leaders and entrepreneurs as the French establishment unites behind a push for more tech investment in Paris.
Marlene Awaad | Bloomberg | Getty Images
Microsoft stock rose 4% in extended trading on Tuesday after the company reported fiscal second-quarter earnings that exceeded analysts’ expectations.
Here’s how the company did:
- Earnings: $2.03 per share, adjusted, vs. $1.64 per share as expected by analysts, according to Refinitiv.
- Revenue: $43.08 billion, vs. $40.18 billion as expected by analysts, according to Refinitiv.
Microsoft revenue grew 17% on an annualized basis, down from 12% growth in the prior quarter, according to a statement.
In the quarter Microsoft released $500 Xbox Series X and $300 Series S consoles, along with a small version of its Surface Laptop PC called the Surface Laptop Go. The company also said some of its source code had been accessed after the company had detected malicious SolarWinds software in its environment.
With respect to guidance, analysts expect $38.70 billion in fiscal third-quarter revenue, which would represent 10.5% annualized growth.
Microsoft shares are up around 5% since the start of 2021, while the S&P 500 index is up about 3%.
Executives will discuss the results on a conference call with analysts starting at 5:30 p.m. Eastern time.
This is breaking news. Please check back for updates.
WATCH: Cruise CEO: Microsoft is a very natural partnership
Nominations are open for the 2021 CNBC Disruptor 50, a list of private start-ups using breakthrough technology to become the next generation of great public companies. Submit by Friday, Feb. 12, at 3 pm EST.