Microsoft beats Q2 earnings on cloud strength, shares flat

News Snapshot:

Microsoft (MSFT) announced its second quarter earnings on Tuesday beating expectations on the top and bottom line. The company reported adjusted earnings per share of $2.93 on revenue of $62 billion, beating expectations of Adj. EPS of $2.78 on revenue of $61.1 billion. Shares of the company were off 1% following the announcement. Microsoft's all-important cloud revenue topped out at $33.7 billion, beating estimates if $32.2 billion. The company's Intelligent Cloud business, which includes its Azure service, came in at $25.8 billion versus expectations of $25.3 billion. "We’ve moved from talking about AI to applying AI at scale," Microsoft CEO...