Microsoft Corporation Crushes Fourth-Quarter Earnings Targets; Shares Rise
Microsoft just reported results for the third quarter of fiscal year 2014. Shares rose 2.5% on the news in after-hours trading.
Analysts were looking for GAAP earnings of $0.63 per share on roughly $20.4 billion in total sales. Microsoft reported earnings of $0.68 per share, and revenue was right in line with the Street view. The company provided non-GAAP figures to account for one-time events in the the year-ago period, but the current quarter's numbers were left unadjusted.
The results were driven by strong gains in two key areas: consumer products like the Xbox gaming console line, and emerging commercial products like the Windows Azure cloud-computing service.
On a conference call with analysts, Microsoft also provided revenue guidance for the next quarter, adding up to $20.7 billion, give or take $0.3 million. Wall Street firms currently see something like $21 billion in first-quarter sales, at the high end of Microsoft's guidance.
"This quarter's results demonstrate the strength of our business, as well as the opportunities we see in a mobile-first, cloud-first world," explained Microsoft CEO Satya Nadella in a prepared statement. "We are focused on executing rapidly and delivering bold, innovative products that people love to use."
The article Microsoft Corporation Crushes Fourth-Quarter Earnings Targets; Shares Rise originally appeared on Fool.com.Anders Bylund has no position in any stocks mentioned. The Motley Fool owns shares of Microsoft. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
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