Microsoft earnings light, stock falls

Microsoft just reported earnings for the quarter ended March 31, and while it was more or less in line with expectations, the stock immediately dropped more than 3%.

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Here's how it stacked up against what Wall Street's expectations (as per Yahoo Finance):

• EPS: $0.62 (non-GAAP) vs $0.64 expected
• Revenue: $22.1 billion (non-GAAP) vs $22.09 billion expected.

Under CEO Satya Nadella, who took over in February 2014, Microsoft's stock has risen more than 40%, and is approaching its all-time peak from 1999. But it looks like it won't pass the record today.

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