Microsoft released its Q2 earnings report last Tuesday, and the results were not great. Microsoft MSFT missed analyst expectations for sales, and the stock dipped. Vahé Torossian, who has been Microsoft since 1992, said Friday he was stepping down from his role as corporate vice president of business.
Microsoft MSFT –2.20% delivered the stock market a truck full of lemons this past week. Investors chose to see a tanker filled with lemonade, but the reality was that the tech giant’s second quarter earnings report was a mixed bag. Microsoft reported top- and bottom-line beats in its fiscal Q2, but shares declined on disappointing guidance.
The second-quarter earnings report was the first since the coronavirus pandemic began, and it revealed some of the economic damage the company has suffered. Microsoft’s revenue was down significantly compared to the same period last year, and the company’s cloud computing business was one of the areas hardest hit by the pandemic.