Microsoft increased its revenue by about 20 percent

Microsoft announced third-quarter results late Tuesday night, after US stock markets closed. Microsoft is running skewed fiscal years.

• Revenue closed at $49.36 billion, up 18 percent from the same quarter last year. Up front, analysts had forecast revenue of $49.05 billion.
• Earnings per share were $2.22 for the quarter, compared to $2.19 per share.

Microsoft did better than expected on sales of software such as Office and Windows, and an increase in Office prices in particular adorned the quarterly result. Xbox game console sales were also higher than expected.

But the most exciting are the future prospects.

Investment Manager at Nordea Funds Robert Ness tells DN It came out on Tuesday that it roughly read and decided that the last quarter was generally good for corporate earnings, but that’s now history.

In the future, it is easy to imagine that there will be more disappointments, says Ness.

Heavy in the stock market

Microsoft shares fell on Monday, as did the rest of the tech stocks listed on the Nasdaq index. Investors are clearly nervous ahead of this week and the flood of earnings next week among US listed companies.

Microsoft is among the companies that struggled for some time in the stock exchange. After a sustained rally for nearly a decade, the stock fell at the end of last year. From the top 345 stocks, the share price is now down to $270 per share.

Analysts still believe that the stock will return to its old highs of nearly six months. But Citibank analyst Tyler Radke lowered his price target from $386 to $355, in connection with the quarterly report, According to Investing.com. This is justified, among other things, by poor sales of computers and the negative consequences of the war in Ukraine.

Microsoft today is mostly owned by funds and large institutional investors, with the Vanguard Group being the largest with a 7.8 percent stake. Founder Bill Gates owns just over one percent and is associated with the company as a technical advisor.(Conditions)Copyright Dagens Næringsliv AS and/or our suppliers. We would like you to share our cases using a link that leads directly to our pages. All or part of the Content may not be copied or otherwise used with written permission or as permitted by law. For additional terms look here.