Software giant Microsoft (MSFT) late Tuesday beat expectations for its fiscal fourth quarter, thanks to continued growth in its cloud computing businesses. But MSFT stock retreated after its sales outlook missed views.
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The Redmond, Wash.-based company earned $2.69 a share on sales of $56.2 billion in the quarter ended June 30. Analysts polled by FactSet had expected Microsoft earnings of $2.55 a share on sales of $55.5 billion. On a year-over-year basis, Microsoft earnings rose 21% while sales climbed 8%.
“We delivered a solid close to the fiscal year driven by Microsoft Cloud quarterly revenue of $30.3 billion, up 21% year over year,” Chief Financial Officer Amy Hood said in a news release.
Microsoft’s Azure infrastructure business and other cloud services posted revenue growth of 26% in the quarter, edging views for 25% growth.
For the current quarter, Microsoft predicted…
