Microsoft, which is laying off nearly 1,000 workers across multiple divisions, reports its fiscal first-quarter results after market close on Oct. 25.
UBS cut its Microsoft price target to $300 from $330 on Thursday as the analyst firm lowered its fiscal year 2023 estimate for the company’s Windows business and also pointed to the impact of foreign exchange. Despite foreign exchange and PC headwinds, the software sector is expected to be one of the highlights of tech earnings season.Analysts surveyed by FactSet are looking for Microsoft fiscal first-quarter revenue of $49.702 billion, an increase of 9.7% on the same period last year, and earnings of $2.33 a share, or $2.31 a share, excluding items.
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