Microsoft (MSFT) Q2 2023 Earnings Results + Q&A

#shacknews #Business #stocks Read More Here: https://www.shacknews.com/article/133... During Microsoft’s (MSFT) earnings call today, it outlined its performance in Q2 2023 while also providing guidance for Q3 2023. Of the noteworthy forward-looking statements is one where CEO Satya Nadella notes expectations of gaming revenue continuing to decline. The information was shared briefly without much in the way of further elaboration, citing things like how the company has been seeing lower monetization per hour in addition to gaming revenue declining by 13 percent in Q2. Other details in the report show Xbox content and services revenue declining 12 percent “on a strong prior year comparable, with declines in first-party content and lower monetization in third-party content, partially offset by growth in Xbox Game Pass subscriptions.” Additionally, Xbox hardware revenue declined 13 percent in Q2, with Devices revenue declining 39 percent “driven by continued PC market weakness and execution challenges on new product launches.” As reported by CNBC, Microsoft (MSFT) shares rose as much as 5 percent in extended trading, but “gave up its gains after the software maker issued lower quarterly revenue guidance than analysts had expected.” Currently, management has called for $50.5 billion to $51.5 billion in revenue for the next quarter, lower than analyst expectations over $52 billion. CONNECT WITH US! FACEBOOK:   / shacknews   TWITTER:   / shacknews   INSTAGRAM:   / shacknewsmedia   Watch us live at   / shacknews   To support the team, visit the site: http://www.shacknews.com