Key Takeaways Microsoft shares dropped after fiscal second-quarter results were reported late Wednesday. Multiple analysts lowered their price targets for the company following weaker-than-expected growth from Microsoft’s Azure cloud computing platform.

Microsoft (NASDAQ: MSFT) shares dropped over 2% in after-hours trading Wednesday, despite the company surpassing Wall Street estimates for its fiscal second-quarter earnings. For the quarter ending Dec.

Microsoft (MSFT) shares were active in late trading on Wednesday after the tech giant reported fiscal second-quarter results. Read for more.

Microsoft Corp. said its cloud-computing business will continue to grow slowly in the current quarter as the company struggles to build enough data centers to handle demand for its artificial intelligence products.

Revenue in Microsoft's 'Intelligent Cloud' segment was $25.5 billion for the quarter, an increase of 19 percent year-over-year (YoY). Within that, server products and cloud services revenue increased by 21 percent (Azure) and other cloud services grew 31 percent.

Microsoft on Wednesday forecast disappointing growth in its cloud computing business, sending its shares down 4.5% in after-hours trading as investors worry about big spending, elusive artificial intelligence revenue and competition from cheaper AI models from China.

Microsoft Corporation (MSFT) market capitalization fell by $200 billion on January 30 after the company reported weak growth in its cloud