Microsoft Corporation (NASDAQ:MSFT) is expected to report its second quarter fiscal 2024 financial results during the week of January 23, with analysts anticipating a 19% year-over-year increase in earnings per share (EPS) to $2.75 according to the Zacks consensus estimate.
Revenue for the period, meanwhile, is projected by Wall Street to come in at $61.03 billion, in line with the company’s previous guidance of 15% year-over-year growth to $60.4 billion to $61.4 billion.
During 1Q, Microsoft saw its Azure cloud revenue growth accelerate after two years of deceleration, and analysts will likely look for more of same during this reporting period.
The company’s Intelligent Cloud segment sales surpassed the analyst consensus during 1Q.
As well, the company revealed that about three percentage points of the previous quarter’s Azure growth was tied to AI, with Wall Street likely to be looking for similar results in 2Q.
Shares of Microsoft rose 1% to $388.47 in midday trading on Monday.