The software giant said it now expects earnings per share of $2.24 to $2.32, down from earlier estimates for $2.28 to $2.35 a share. The company sees a $460 million impact on fourth-quarter revenue from currency fluctuations, knocking revenue to $51.94 billion to $52.74 billion. The shares declined about 2.3% Thursday morning in New York.
Microsoft issued the new guidance in a securities filing, “to help investors understand the impact of unfavorable foreign exchange rate movement in the fourth quarter of fiscal 2022 since the forward-looking guidance provided on April 26.” The Redmond, Washington-based company got about half of the $168 billion in revenue generated in fiscal 2021 from abroad.
Microsoft’s revised outlook “will be a recurring theme across many large software companies, as most generate over one-third of their sales outside the US,” said Anurag Rana, an analyst at Bloomberg Intelligence. In its most recent earnings report, issued in April, Microsoft reported quarterly sales and earnings that topped analysts’ projections, fueled by robust growth in cloud-services demand.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Business Business Latest News, Business Business Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
MONEY LIVE | Sale of Libstar business falls through | Fin24MONEY LIVE | Sale of Libstar business falls through. Being the head of the home isn't easy, you are expected to provide for the home, I lost my job during the pandemic and relied on the little money I had,things were hard until I met Allison_Grillo and started Bitcoin trading, I earned R150,000 in 3 weeks thanks Allison_Grillo.
Source: Fin24 - 🏆 21. / 63 Read more »
Business Maverick: Biden says US will provide Ukraine advanced rocket systemsPresident Joe Biden said he’ll give Ukraine advanced rocket systems and other US weaponry to better hit targets in its war with Russia, ramping up military support as the conflict drags into its fourth month. I hope and pray that Putin can be stopped soon this is Total madness US should be working with the UN and others in trying to get the two parties to find a common ground. But they choose escalation
Source: dailymaverick - 🏆 3. / 84 Read more »
Business Maverick: Boeing reaches out to Singapore Air to discuss 777X delaysBoeing Co has reached out to Singapore Airlines Ltd. to discuss the US planemaker’s failure to deliver long-delayed 777X aircraft on time, according to the CEO of the city-state’s flag carrier. With sincerity and gratitude in my heart I am sharing this testimony so other people will know that this platform is really legitimate am grateful AmelieBtc1
Source: dailymaverick - 🏆 3. / 84 Read more »
Business Maverick: US Manufacturing Growth Unexpectedly Firms on Stronger OrdersUS manufacturing activity unexpectedly advanced in May as new orders and output growth quickened, suggesting underlying demand remains solid. Where is the Daily Maverick now with regards to Glencore. Clearly they only report selectively. FOUND GUILTY OF STATE CAPTURE throughout the world but in South Africa they innocent. I wonder why It's GLENCORE's cheap coal that has caused all our power plants to break, when is THE DAILY MAVERICK going to investigate the true state captures Glencore who thought the Guptas to steal
Source: dailymaverick - 🏆 3. / 84 Read more »
Business Maverick: African Lender Wants to Leverage Rich Nations’ IMF Reserve FundsThe African Development Bank is lobbying rich nations to use their rights to International Monetary Fund reserve assets to help it raise funding to support poorer countries, the first such initiative undertaken by a multilateral lender.
Source: dailymaverick - 🏆 3. / 84 Read more »
Business Maverick: Euro Zone Set to Get 20th Member as Croatia Given Crucial NodThe euro zone is moving closer to adding its 20th member after Croatia was ruled to be in good enough shape to join the club next year. You sound happy about that, are we part of it indirectly? You're colonial clerks
Source: dailymaverick - 🏆 3. / 84 Read more »