Microsoft shares fall after earnings report even as AI bet bears fruit
by Johana Bhuiyan in New York from Technology | The Guardian on (#6D9AA)
Company's $56.2bn revenue beat Wall Street expectations but slowing growth for cloud service Azure proved to be a dampener
Microsoft shares fell on Tuesday as the company reported a slowdown in growth of parts of its business, despite the company's various investments in AI including its partnerships with OpenAI and Meta.
The tech firm beat Wall Street expectations with $56.2bn in revenue, but its latest earnings report showed slowing revenue growth for its cloud service Azure. Revenue from Azure only grew 26% in the fourth quarter of the year, compared with 27% in the previous quarter.
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