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00:03Microsoft shares slid about 10% on Thursday after the company reported earnings that
00:08disappointed some investors, marking its sharpest daily decline since March 2020,
00:13according to CNBC. The drop erased $357 billion in market capitalization,
00:20leaving Microsoft valued at $3.22 trillion by the close.
00:24The iShares Expanded Tech Software Sector ETF fell 5%, while the NASDAQ Composite ended down 0.7%.
00:33Azure and other cloud services growth came in at 39%, below the 39.4% street account consensus.
00:41Microsoft forecast $12.6 billion in fiscal third quarter revenue for its more personal computing
00:47segment, below the $13.7 billion consensus and implied operating margin also missed.
00:55Finance Chief Amy Hood said cloud growth was constrained by data center allocation choices
01:00and added that capital expenditures are expected to decline slightly this quarter.
01:05For all things money, visit Benzinga.com.
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