129.49 +4.48 (3.58%)
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.
Melinda Gates sits down with Yahoo Finance’s Brian Sozzi to discuss everything from women’s health care to capitalism.
Dow Jones futures: Facebook, ServiceNow, Microsoft and Lam Research were big earnings movers late, but Xilinx tumbled. Tesla and Chipotle were up and down.
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 capitalisation. 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 Corp. shares rose in the extended session Wednesday, pushing the tech giant toward a $1 trillion valuation as cloud growth continues to boost the company’s finances.
Microsoft has moved within touching distance of a trillion-dollar valuation after posting a 19pc increase in profits on Wednesday.
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.
Software behemoth Microsoft topped Wall Street's estimates for its fiscal third quarter thanks to its cloud computing services. The Microsoft earnings news sent its stock higher late.
REDMOND, Wash. (AP) — 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.