129.44 +4.43 (3.54%)
After hours: 7:59PM EDT
|Bid||129.30 x 800|
|Ask||129.32 x 2200|
|Day's Range||124.52 - 125.85|
|52 Week Range||90.28 - 125.85|
|Beta (3Y Monthly)||1.01|
|PE Ratio (TTM)||29.00|
|Earnings Date||Jul 17, 2019 - Jul 22, 2019|
|Forward Dividend & Yield||1.84 (1.56%)|
|1y Target Est||129.25|
Microsoft reported better-than-expected fiscal third-quarter financial results, which sent the stock soaring in after-hours trade.
U.S. stocks slipped amid another busy day for corporate earnings, which featured mixed results from industrial heavyweights Caterpillar and Boeing.
Microsoft has proposed scrapping a policy in Windows that requires users toperiodically change their login password
Net income was $8.8 billion, or $1.14 a share, compared with an average analyst estimate of $1 a share, according to data compiled by Bloomberg. The fiscal third quarter featured a flurry of large brands, particularly in retail, signing agreements to use Microsoft’s Azure cloud software. Clients included grocer Kroger Co., Walgreens Boots Alliance Inc. and oil company Exxon Mobile Corp. Some, such as Walgreens, also committed to using cloud-based Office and security software.
The Redmond, Washington-based company beat Wall Street estimates for quarterly profit and revenue, powered by an unexpected boost in Windows revenue and brisk growth in its cloud business which has reached tens of billions of dollars in sales. Microsoft shares rose 4.4% to $130.54 in late trading after the forecast issued on a conference call with investors, pushing the company ahead of Apple Inc's $980 billion market capitalization. Microsoft's stock has gained about 23% gain so far this year, after hitting a record high of $125.85 during regular trading hours.
Microsoft's ongoing push to get automakers, retailers and other businesses onto its cloud computing platform helped power the company's third-quarter earnings ahead of Wall Street expectations Wednesday. Amid a decline in its legacy Windows software business, much of Microsoft's growth in recent years has come from selling its cloud services to other businesses and governments. Microsoft Chief Financial Officer Amy Hood said in a statement Wednesday that revenue from the company's "commercial cloud" segment grew 41 per cent year-over-year to $9.6 billion.
The Invesco QQQ Trust ETF rose as much as 0.6 percent after Nasdaq 100 constituents Microsoft Corp. and Facebook Inc. reported sales that topped analyst forecasts. The index was up 23 percent year-to-date at the 4 p.m. close of U.S. exchanges and the S&P 500’s Information Technology Index is the best performer in the gauge. “With Facebook, investors had concerns about pressure from U.S. and EU regulators, which hasn’t come to pass, and privacy concerns haven’t slowed growth especially in emerging markets,” said Max Gokhman, the head of asset allocation for Pacific Life Fund Advisors.
Shares of Facebook FB popped more than 7% in extended trading Wednesday following the release of the social media giant's first-quarter earnings . Facebook reported earnings per share of 85 cents, which was not comparable to analysts' estimates due to a $3 billion legal expense related to a Federal Trade Commission inquiry into Facebook's privacy policies. Revenue came in at $15.08 billion, topping Wall Street's $14.98 billion forecast, according to Refinitiv.
The S&P 500 slipped on Wednesday after ending the previous session with a record and the Nasdaq failed to hold all-time highs reached earlier in the day while investors waited for more earnings reports. Energy stocks were the biggest drag on the S&P 500 as oil prices fell. While the tech-heavy Nasdaq had help from eBay Inc's upbeat earnings and a chipmaker rally, investors were digesting a mixed bag of reports.
Fiscal third-quarter earnings and sales at the software giant both came in ahead of Wall Street’s expectations. The stock jumped in after-hours trading Wednesday.
Microsoft Corp on Wednesday briefly topped $1 trillion in value for the first time after executives predicted continued growth for its cloud computing business. Microsoft shares rose 4.4% to $130.54 in late trading after the forecast issued on a conference call with investors, pushing the company ahead of Apple Inc's $980 billion market capitalization. Microsoft's stock has gained about 23% gain so far this year, after hitting a record high of $125.85 during regular trading hours.
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