Microsoft is scheduled to report fiscal fourth-quarter earnings after U.S. market close on Tuesday.

Here’s what analysts polled by LSEG are looking for:

• Earnings per share: $2.93
• Revenue: $64.39 billion

Microsoft is expected to show revenue growth of about 15% from $56.2 billion a year earlier, following expansion of 17% in the prior quarter. Google parent Alphabet reported last week that growth slowed in the quarter as YouTube ad revenue came up short of expectations.

Microsoft is likely to find its strongest growth in cloud computing. Analysts surveyed by CNBC and StreetAccount expect revenue growth of 30% from Azure and other cloud services, a slight decline from 31% in the previous quarter. Microsoft doesn’t disclose Azure revenue in dollars.

Analysts at Evercore ISI, who have a buy rating on Microsoft shares, wrote in a note last week that they expect 7.8 points of Azure’s growth to come from artificial intelligence services, up from 7 points in the fiscal third quarter.

An improvement in the PC market might provide some relief to the Windows operating system business, which contracted last year after a Covid-era computer buying spree. Technology industry researcher Gartner estimated that PC shipments grew 1.9% in the fiscal fourth quarter, up from 0.9% growth in the prior period.

During the fiscal fourth quarter, Microsoft started selling Surface PCs with AI features that can run certain models locally without the need for an internet connection. Dell, HP and other device makers also touted their own so-called Copilot+ PCs. CEO Satya Nadella said at a press briefing in May that “we’re bringing real joy and a sense of wonder back to creation on the PC.”

Microsoft shares have gained about 14% year to date, slightly underperforming the S&P 500 index, which is up about 15%.

Executives will discuss the results and issue guidance on a conference call with analysts starting at 5:30 p.m. ET.