Market Overview

Microsoft Reports Q3 Earnings Beat, Says Coronavirus Had 'Minimal Net Impact' On Revenue

Microsoft Reports Q3 Earnings Beat, Says Coronavirus Had 'Minimal Net Impact' On Revenue

Microsoft Corporation (NASDAQ: MSFT) reported third-quarter EPS at $1.40 per share on Wednesday, which beat the analysts estimate of $1.26 per share. The company reported sales at $35.020 billion, which beat the analysts estimate of $33.660 billion.

"We’ve seen two years’ worth of digital transformation in two months. From remote teamwork and learning, to sales and customer service, to critical cloud infrastructure and security – we are working alongside customers every day to help them adapt and stay open for business in a world of remote everything,” CEO Satya Nadella said in a statement. "Our durable business model, diversified portfolio, and differentiated technology stack position us well for what’s ahead."

Notably, the company said the coronavirus (COVID-19) had minimal net impact on the total company revenue.

Microsoft shares traded up 4.30% to $177.11 on Wednesday, and ticked higher in after-hours trading. The stock has a 52-week high of $190.70 and a 52-week low of $119.01.

Related Links:

Microsoft Q3 Earnings Preview: Eyeing Cloud, Home, And Business Solutions

Microsoft Analyst Remains Bullish On Software 'Pillar'


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