Microsoft on Wednesday forecast disappointing growth in its cloud computing business, sending its shares down 4.5% in after-hours trading as investors worry about big spending, elusive artificial intelligence revenue and competition from cheaper AI models from China.

Microsoft reports its second-quarter financial results after Wednesday's closing bell. Here's a look at the key figures from the quarter.

Microsoft’s Commercial Cloud segment revenue, which includes cloud services, sales saw revenue of $40 billion, a 21% year-over-year increase, but short of Wall Street expectations of $41.1 billion. Microsoft's intelligent cloud business, which includes its Azure platform, saw revenue of $25.5 billion. Wall Street was expecting $25.8 billion.

Microsoft shares fell in Europe on Thursday after it issued a downbeat forecast for its cloud business, while Facebook parent Meta shares rose after beating expectations, as investors scrutinised the companies' spending on artificial intelligence.