Microsoft beats Q2 earnings on AI, cloud strength

Microsoft (MSFT) announced its second quarter earnings on Tuesday, beating expectations on the top and bottom lines. The company reported adjusted earnings per share of $2.93 on revenue of $62 billion, beating expectations of adjusted EPS of $2.78 on revenue of $61.1 billion. The beats, however, failed to completely satisfy investors, as the stock moved about 1% lower in premarket rading Wednesday. Microsoft’s all-important cloud revenue topped out at $33.7 billion, beating estimates of $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. According to the company,…