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

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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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