US Stocks Move: Microsoft Cloud Business Growth Slows, Shares Drop 8% After Hours

Gelonghui, January 29｜Microsoft (MSFT.US) shares once fell by 8% after hours, despite the tech giant reporting better-than-expected results for the second fiscal quarter. Microsoft reported adjusted earnings per share of $4.14 and revenue of $81.3 billions. Analysts surveyed by FactSet had previously expected earnings per share of $3.91 and revenue of $80.3 billions. Investors may be reacting to the company's performance in Azure cloud services. Azure revenue grew by 39% this quarter. This figure exceeded Wall Street's expectation of 37.8%, but was slightly down from the 40% growth rate in the first fiscal quarter.