Microsoft stock bounces back after quarterly profit announcement

Shares of the American technology company “Microsoft” today, Wednesday, recovered after falling yesterday, Tuesday, during the main trading session of the Nasdaq electronic exchange.

Microsoft shares fell yesterday after the release of conflicting financial data on the results of the US company’s operations between October and December 2022.

According to the data, shares rose in electronic trading at 13:27 Moscow time to $252.26, while Microsoft shares ended Tuesday’s trading down 0.22% to $242.04.

The American portal ARTnews explained the rebound in shares by the fact that adjusted net income per share was higher than market expectations: for example, Thomson Reuters analysts expected it to reach $2.29 per share.

At the same time, the latest report showed that the index was at $2.32 per share, while the company was able to increase revenue, which grew by 2% over the period covered by the report, from $51.73 billion to $52.75 billion, against expectations in $52.9 billion

Microsoft also announced higher-than-expected profits in the second quarter of fiscal 2023 thanks to the strong performance of its intelligent cloud division, which generated $21.51 billion in revenue, up 18% year-on-year and beat expectations. in the amount of 21.4 dollars. billion.

Source: TASS