Xin Hua Cai Jing·2025-07-31 09:17Core Insights - Microsoft reported Q2 revenue of $76.44 billion, an 18% year-over-year increase, exceeding market expectations, with the previous quarter showing a 13.3% growth [2] - Adjusted earnings per share (EPS) for Q2 were $3.65, a 24% increase year-over-year, surpassing the expected $3.37 [2] - Operating profit for Q2 was approximately $34.3 billion, reflecting significant growth [2] Revenue Breakdown - The Intelligent Cloud segment generated $29.9 billion in revenue, a 23% increase, with an operating margin rising to 44.9% [3] - Azure cloud revenue reached $21.5 billion, with a year-over-year growth rate of 39% [4][6] - The Productivity and Business Processes segment achieved $33.11 billion in revenue, a 16% increase, with the Office 365 commercial cloud business contributing $24.3 billion, also growing at 16% [8] Capital Expenditure and Profitability - Capital expenditures for the quarter rose to $24.2 billion, a record high for a single quarter, representing a 27% year-over-year increase [8] - The gross margin slightly declined by 1 percentage point due to increased investments in AI infrastructure [7] Market Outlook and AI Impact - The market remains cautiously optimistic about Microsoft's revenue guidance, driven by strong demand across various business types contributing to Azure's growth [6][8] - Microsoft has expanded its data center capacity significantly, adding over 2,000 megawatts in the past 12 months, and operates over 400 data centers globally [8] - GitHub's AI programming tool, GitHub Copilot, has surpassed 20 million users, indicating strong adoption of AI technologies [8]