Microsoft beats Q2 earnings on cloud strength, shares flat

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…