Microsoft (NASDAQ: MSFT) posted its latest quarterly report on Jan. 24. For the second quarter of fiscal 2023, which ended on Dec. 31, 2022, the tech-giant's revenue rose 2% year over year to $52.7 billion and beat analyst estimates by $450 million. Its adjusted earnings declined 6% to $2.32 per share, but still cleared Wall Street's expectations by $0.01.
Those growth rates were anemic, but Microsoft had previously warned investors that it would experience slower growth in fiscal 2023 as it grappled with macro and currency headwinds. Its decision to lay off about 10,000 employees, or 5% of its workforce, by the end of March also tempered the market's expectations ahead of its second-quarter report.
Microsoft stock closed at an all-time high of $339.89 in Nov. 2021 but now trades nearly 30% lower, as investors focus on its near-term challenges. Does that pullback represent a good buying opportunity?
Source Fool.com