<p><strong>微软</strong>(MSFT -5.37%) 的股票在周四的交易中下滑，此前该公司发布了最近的季度报告。截至东部时间下午 3 点，股价下跌了 5.4%。</p>
<p>在昨天市场收盘后，微软公布了其当前财政年度第一季度的业绩——该季度于 9 月 30 日结束。尽管该期间的销售和收益超出了华尔街的预期，但投资者对公司的前景指引并不满意。</p>
<h2>微软在财政第一季度实现强劲增长</h2>
<p>微软公布每股收益为 3.30 美元，营收为 655.9 亿美元，超出了分析师平均预期的每股收益 3.11 美元和 645.6 亿美元的营收。该公司的营收同比增长约 16%，每股收益较去年同期增长 10%。该业务在该期间的营业收入为 306 亿美元，利润率约为 46.7%，较去年第一季度增长 14%。</p>
<p>微软的智能云业务再次成为突出的增长驱动力。该部门的销售同比增长 20%，达到 241 亿美元。在该部门中，Azure 云基础设施业务的销售增长了 34%。</p>
<p>与此同时，生产力和业务流程部门的销售额为 283 亿美元，同比增长 12%。个人计算部门的营收同比增长 17%，达到 132 亿美元。总体而言，这是公司一个非常强劲的季度，但管理层的前景指引似乎未能达到华尔街的高期望。</p>
<h2>但华尔街对微软的云和人工智能指引并不满意</h2>
<p>对于当前季度，微软预计 Azure 业务的增长将在 31% 到 32% 之间——低于上个季度的 34% 增长率。智能云部门的整体营收预计同比增长在 18% 到 20% 之间。</p>
<p>该公司预计人工智能（AI）销售将大致与上个季度的表现持平，而投资者似乎希望能有显著的环比增长。随着对 AI 基础设施支出的增加，指引的不足导致微软股票今天下跌。另一方面，管理层表示预计 Azure 的增长将在财政年度下半年加速。对于希望在 AI 趋势中建立敞口的长期投资者来说，今天的回调可能提供了一个值得的买入机会。</p>

微软

<p>微软的股票在季度报告发布后下跌了 5.4%，尽管其盈利和收入均超出预期。该公司报告第一季度每股收益为 1.30 美元，收入为 565 亿美元，智能云部门，特别是 Azure，表现出显著增长。然而，华尔街对公司的前景指引感到失望，预计 Azure 和人工智能销售的增长速度将放缓。这一指引不足，加上人工智能基础设施支出的增加，导致股票下跌，尽管管理层预计 Azure 的增长将在财政年度后期加速</p>

<p><strong>Microsoft</strong>(MSFT -5.37%) stock is slipping in Thursday's trading following the company's recent quarterly report. The tech giant's share price was down 5.4% as of 3 p.m. ET.</p>
<div class="lb-trans"><p><strong>微软</strong>(MSFT -5.37%) 的股票在周四的交易中下滑，此前该公司发布了最近的季度报告。截至东部时间下午 3 点，股价下跌了 5.4%。</p>
</div><p>After the market closed yesterday, Microsoft reported results for the fist quarter of its current fiscal year -- which ended Sept. 30. While sales and earnings for the period came in ahead of Wall Street's expectations, investors aren't satisfied with the company's forward guidance.</p>
<div class="lb-trans"><p>在昨天市场收盘后，微软公布了其当前财政年度第一季度的业绩——该季度于 9 月 30 日结束。尽管该期间的销售和收益超出了华尔街的预期，但投资者对公司的前景指引并不满意。</p>
</div><h2>Microsoft posts strong growth in fiscal Q1</h2>
<div class="lb-trans"><h2>微软在财政第一季度实现强劲增长</h2>
</div><p>Microsoft posted earnings per share of $3.30 on revenue of $65.59 billion, beating the average analyst estimate's call for per-share earnings of $3.11 on revenue of $64.56 billion. The company's revenue was up roughly 16% year over year in the period, and earnings per share were up 10% compared to last year's quarter. The business posted operating income of $30.6 billion in the period -- good for a margin of roughly 46.7% and up 14% compared to Q1 last year.</p>
<div class="lb-trans"><p>微软公布每股收益为 3.30 美元，营收为 655.9 亿美元，超出了分析师平均预期的每股收益 3.11 美元和 645.6 亿美元的营收。该公司的营收同比增长约 16%，每股收益较去年同期增长 10%。该业务在该期间的营业收入为 306 亿美元，利润率约为 46.7%，较去年第一季度增长 14%。</p>
</div><p>Microsoft's Intelligent Cloud business was once again the standout growth driver. Segment sales increased 20% year over year to reach $24.1 billion, Within the segment, sales for the Azure cloud infrastructure business rose 34%.</p>
<div class="lb-trans"><p>微软的智能云业务再次成为突出的增长驱动力。该部门的销售同比增长 20%，达到 241 亿美元。在该部门中，Azure 云基础设施业务的销售增长了 34%。</p>
</div><p>Meanwhile, sales for the productivity and business processes segment came in at $28.3 billion, up 12% year over year. Revenue for the personal computing segment rose 17% year over year to reach $13.2 billion. Overall, it was a very strong quarter for the company, but management's forward guidance doesn't appear to have lived up to Wall Street's lofty expectations.</p>
<div class="lb-trans"><p>与此同时，生产力和业务流程部门的销售额为 283 亿美元，同比增长 12%。个人计算部门的营收同比增长 17%，达到 132 亿美元。总体而言，这是公司一个非常强劲的季度，但管理层的前景指引似乎未能达到华尔街的高期望。</p>
</div><h2>But Wall Street wasn't satisfied with Microsoft's cloud and AI guidance</h2>
<div class="lb-trans"><h2>但华尔街对微软的云和人工智能指引并不满意</h2>
</div><p>For the current quarter, Microsoft expects growth for the Azure business to come in between 31% and 32% -- decelerating from the 34% growth rate it posted last quarter. Overall revenue for the Intelligent Cloud segment is expected to be up between 18% and 20% year over year.</p>
<div class="lb-trans"><p>对于当前季度，微软预计 Azure 业务的增长将在 31% 到 32% 之间——低于上个季度的 34% 增长率。智能云部门的整体营收预计同比增长在 18% 到 20% 之间。</p>
</div><p>The company expects artificial intelligence (AI) sales to be roughly in line with performance last quarter, and it looks like investors were hoping for meaningful sequential growth. Along with rising spending on AI infrastructure, the guidance shortfall is causing Microsoft stock to lose ground today. On the other hand, management said that it expects Azure's growth to accelerate in the second half of the fiscal year. For long-term investors looking to build exposure to AI trends, today's pullback could present a worthwhile buying opportunity.</p>
<div class="lb-trans"><p>该公司预计人工智能（AI）销售将大致与上个季度的表现持平，而投资者似乎希望能有显著的环比增长。随着对 AI 基础设施支出的增加，指引的不足导致微软股票今天下跌。另一方面，管理层表示预计 Azure 的增长将在财政年度下半年加速。对于希望在 AI 趋势中建立敞口的长期投资者来说，今天的回调可能提供了一个值得的买入机会。</p>
</div>

Why Microsoft Stock Is Sinking Today

- 微软 (MSFT) 股价在季度报告后下跌 5.4%。  
- 尽管销售和盈利超出预期，但前景指引未达华尔街期望。  
- Azure 业务预计增长放缓，导致投资者失望。  

为什么微软股票今天下跌