Microsoft's quarter shows once again that it must get its growth to spending ratio right

Microsoft topped revenue and earnings estimates in its fiscal 2026 second quarter. But shares slid Wednesday evening as Azure failed to deliver meaningful growth upside. In-line guidance did little to change that narrative, which has been hurting the stock. Revenue increased about 16% year over year to $81.28 billion, beating the Street consensus estimate of $80.26 billion, according to data from LSEG. Earnings per share increased 28% from last year to $4.14, ahead of the $3.97 estimate, LSEG data showed. Q ...