Microsoft, a software giant headquartered in Redmond, Washington, reported earnings for its fiscal third quarter that exceeded analysts’ expectations. The company made $2.94 per share on sales of $61.9 billion for the quarter ending March 31st. This was much better than expected earnings of $2.82 per share on sales of $60.9 billion according to FactSet, representing a significant improvement from the year-ago quarter when Microsoft earned $2.45 per share on sales of $52.9 billion.
Following the positive earnings report, Microsoft’s stock price soared more than 4% in after-hours trading to reach 416.74. Despite declining by 2.5% during regular trading session and closing at 399.04, the strong earnings report boosted investor confidence in the company’s ongoing success and growth in the industry. Microsoft’s stock is included in two IBD stock lists: Long-Term Leaders and Tech Leaders, highlighting its continued success in the software and technology sector.
As more information about Microsoft’s performance becomes available, it is clear that its cloud computing business played a major role in its success during this quarter. With its rising stock price and prominent market presence, Microsoft remains a top player in the software and technology industry with investors continuing to show confidence in its future growth prospects.
For up-to-date information on consumer technology, software, and semiconductor stocks you can follow Patrick Seitz on X (formerly Twitter) at @IBD_PSeitz for all your latest news and trends within these industries.
In summary, Microsoft reported strong fiscal third quarter earnings that beat analyst expectations driven by a successful cloud computing business resulting in an increase of stock price post earning announcement despite slight decline during regular trading session . Investors are still showing confidence in the company due to their position as leaders in software and technology industry with continuous growth prospects ahead while following @IBD_PSeitz for updates on key market players and trends across consumer technology, software