Microsoft Earnings: AI Lifts Redmond To Highest Quarterly Sales Ever

Microsoft reported its strongest financial quarter ever Tuesday by several metrics as artificial intelligence jolts the 48-year-old tech behemoth.... [+]The company posted $56.2 billion in sales and $2.69 earnings per share in the three-month period ending June 30, smashing consensus estimates of $55.5 billion of revenue and $2.55 earnings per share, according to FactSet.

Microsoft shattered several of its financial records during the most recent quarter, as its gross sales and net income were both all-time bests, while its EPS was the second-highest ever. Overall, Microsoft’s top line swelled by 21% over the last 12 months while its bottom line spiked by 8%; profits and sales grew by 10% and 6% from last quarter, respectively.

Largely driving the gains was a 21% year-over-year in operating income in its intelligent cloud segment including much of Microsoft’s current AI offerings. Microsoft’s stock slipped less than 1% immediately after its earnings release, gnawing at its nearly 50% gain year-to-date.Microsoft’s $2.6 trillion market capitalization at the end of regular trading hours Tuesday made it the second-most valuable company in the world. Its valuation has skyrocketed by about $800 billion this year as investors generally buy into the notion that Microsoft

United States United States Latest News, United States United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Dow strives for 12th day of gains as Microsoft and Alphabet earnings loomU.S. stock futures rose early Tuesday as earnings season picked up pace and traders looked ahead to the Fed decision midweek.
Source: MarketWatch - 🏆 3. / 97 Read more »

Stock Market Today: What to Watch Ahead of Alphabet, Microsoft EarningsStock futures were steady ahead of a slew of earnings due later from big names such as Google parent Alphabet, Microsoft and Visa. Follow the latest markets updates.
Source: WSJ - 🏆 98. / 63 Read more »

Microsoft earnings: What to expectAs Microsoft gears up to report earnings in the present, it's becoming ever harder for Wall Street not to get swept up by the future.
Source: MarketWatch - 🏆 3. / 97 Read more »

U.S. stocks were rising as Microsoft and Alphabet kick off tech earnings By Investing.com*U.S. STOCKS INCH HIGHER AS MICROSOFT AND ALPHABET KICK OFF TECH EARNINGS, FED MEETING BEGINS $DIA $SPY $QQQ $MSFT $GOOGL 🇺🇸🇺🇸
Source: Investingcom - 🏆 450. / 53 Read more »

Windows and devices take a hit in Microsoft’s Q4 earnings, but Xbox is mostly upThe PC market is still down and impacting Windows and devices revenues.
Source: verge - 🏆 94. / 67 Read more »

Microsoft earnings top estimates, but stock falls as investors await forecastMicrosoft easily topped profit and revenue expectations for its latest quarter, though its shares were moving lower in after-hours trading. $MSFT generated fiscal Q4 net income of $20.1 billion, compared with $16.7 billion in the year-earlier period.
Source: MarketWatch - 🏆 3. / 97 Read more »