Microsoft Beats Expectations in Fiscal Q3 Thanks to Strong Cloud Business

Software giant Microsoft exceeded analysts’ expectations in its fiscal third quarter, propelled by robust performance in its cloud computing division. The company, headquartered in Redmond, Washington, reported earnings of $2.94 per share on revenue of $61.9 billion for the quarter ending on March 31. This topped the projections set by analysts surveyed by FactSet, who had anticipated earnings of $2.82 per share on revenue of $60.9 billion.

Compared to the same period a year ago, Microsoft’s earnings grew from $2.45 to $2.94 per share, while revenues rose from $52.9 billion to $61.9 billion. Following the release of these impressive financial results, Microsoft stock surged over 4% in after-hours trading to reach $416.74. However, during the regular trading session on Thursday, the stock had initially dipped by 2.5% to close at $399.04.

Details from the earnings report are expected to provide further insights into Microsoft’s performance across various segments. The company’s stock is currently featured on two IBD stock lists, indicating its strong market position and investor appeal. Additionally, Microsoft is listed as one of the top performers in the technology sector, showcasing its continued growth and innovation under the leadership of key figures like Patrick Seitz.