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Microsoft Corporation (NASDAQ: MSFT) fell in the extended session Monday after the company posted fiscal second-quarter results in line with expectations.
The software giant's shares traded recently at $45.54, down more than 3 percent.
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Microsoft planned to offer an earnings outlook during its conference call with analysts, slated for 5:30 p.m. EST.
Microsoft's earnings for the recent period fell to $5.86 billion, or $0.71 a share, from $11.8 billion, or $1.42 a share a year earlier. Revenue grew to $26.47 billion, from $24.52 billion a year earlier.
Wall Street expected second-quarter earnings of $0.71 a share, on revenue of $26.33 billion.
Results for the recent period included charges of $0.06 a share for restructuring and a tax adjustment.
Microsoft said commercial cloud-based revenue grew 114 percent in the second quarter, driven by Office 365 and other products.
Including this, commercial revenue grew 5 percent to $13.3 billion.
Devices and consumer revenue grew 8 percent to $12.9 billion, including Surface revenue of $1.1 billion, up 24 percent.
Xbox console sales totaled 6.6 million units, with "strong holiday season performance," and phone hardware revenue of $2.3 billion, with 10.5 million Lumia units sold, the company said.
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.