Microsoft stock rose 4% in extended trading on Tuesday after the company reported fiscal second-quarter earnings that exceeded analysts’ expectations.

Here’s how the company did:

• Earnings: $2.03 per share, adjusted, vs. $1.64 per share as expected by analysts, according to Refinitiv.
• Revenue: $43.08 billion, vs. $40.18 billion as expected by analysts, according to Refinitiv.

Microsoft revenue grew 17% on an annualized basis, down from 12% growth in the prior quarter, according to a statement.

Revenue from Microsoft’s Intelligent Cloud business segment, which includes the Azure public cloud, server products such as Windows Server, GitHub and enterprise services, totaled $14.60 billion. That’s up 23% year over year and above the $13.77 billion consensus among analysts polled by FactSet.

Microsoft said Azure revenue grew 50%. Analysts had expected around 42% growth. Microsoft doesn’t disclose Azure revenue in dollars.

In the quarter Microsoft released $500 Xbox Series X and $300 Series S consoles, along with a small version of its Surface Laptop PC called the Surface Laptop Go. The company also said some of its source code had been accessed after the company had detected malicious SolarWinds software in its environment.

With respect to guidance, analysts expect $38.70 billion in fiscal third-quarter revenue, which would represent 10.5% annualized growth.

Microsoft shares are up around 5% since the start of 2021, while the S&P 500 index is up about 3%.

Executives will discuss the results on a conference call with analysts starting at 5:30 p.m. Eastern time.

This is breaking news. Please check back for updates.

WATCH: Cruise CEO: Microsoft is a very natural partnership

Nominations are open for the 2021 CNBC Disruptor 50, a list of private start-ups using breakthrough technology to become the next generation of great public companies. Submit by Friday, Feb. 12, at 3 pm EST.