Microsoft Corp (NASDAQ: MSFT)
Microsoft stock jumped $3.91, or 3.82% to change hands at $106.23 in post-market trading on Wednesday after fiscal first-quarter results of the tech giant surpassed Wall Street expectations.
During the regular session, Microsoft shares lost 5.35% to close at $102.32. The stock has rallied more than 22% since the beginning of the year and lost nearly 11% in the past month.
MSFT Earnings & Outlook
Net income was $9.8 billion, or $1.14 per share during the quarter, up from $6.58 billion, or $0.84 per share, in the same period a year ago. Revenue came in at $29.08 billion, compared with $24.54 billion in the first quarter of 2017.
Analysts were expecting adjusted earnings of $0.94 per share and revenue of $27.89 billion, according to figures compiled by FactSet. Productivity and Business processes division grew 19% to $9.8 billion.
Revenue from its cloud computing segment jumped 24% year over year to $8.57 billion. Its More Personal Computing unit posted revenues of $10.7 billion, up 15% from a year earlier.
The Redmond, WA-based company will provide its guidance during its earnings conference late Wednesday. Analysts expect the company to report adjusted earnings of $1.06 per share on $32.21 billion revenue for its fiscal second quarter.
Microsoft Executive Comments
Satya Nadella, chief executive officer of Microsoft had this to say about the results “We are off to a great start in fiscal 2019, a result of our innovation and the trust customers are placing in us to power their digital transformation. We’re excited to help our customers build the digital capability they need to thrive and grow, with a business model that is fundamentally aligned to their success.”
Microsoft Corp. Company Profile
Microsoft Corp. engages in the development and support of software, services, devices, and solutions. Its products include operating systems; cross-device productivity applications; server applications; business solution applications; desktop and server management tools; software development tools; and video games.
It also offers personal computers, tablets, gaming and entertainment consoles, other intelligent devices, and related accessories. It operates through the following business segments: Productivity and Business Processes; Intelligent Cloud; and More Personal Computing.
The Productivity and Business Processes segment is comprised of products and services in the portfolio of productivity, communication, and information services of the company spanning a variety of devices and platform. The Intelligent Cloud segment refers to the public, private, and hybrid serve products and cloud services of the company which can power modern business.
The More Personal Computing segment encompasses the products and services such as windows operating system, devices, gaming platform, and search engines. The company was founded by William Henry Gates III in 1975 and is headquartered in Redmond, WA. – CNN Money
