<p>Microsoft (NASDAQ: MSFT) earnings for the third quarter of 2020 have MSFT shares higher on Wednesday afternoons. This is because its diluted earnings per share (EPS) of $ 1.40 beat Wall Street‘s estimate of $ 1.26. The technology company’s revenue of $ 35.02 billion also beats analysts’ estimates of $ 33.66 billion.
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Check out what went more in the latest Microsoft performance report below.
Earnings after dilution per share increased by 23% from $ 1.14 during the third quarter of 2019. Revenue is 15% higher than the $ 30.57 billion reported during the same period last year. Operating profit of $ 12.98 billion is a 25% increase over the same period last year from $ 10.34 billion. Microsoft’s earnings report also has a net profit of $ 10.75 billion. That is a jump of 22% over the company’s net profit of $ 8.81 billion during the same period the year before. The company notes that the new coronavirus had a minimal impact on its operations during fiscal policy Q 2020.
Amy Hood, Vice President and CFO of Microsoft, said this about the earnings report.
In this dynamic environment, our sales teams and partners conducted a solid third quarter, with Commercial Cloud revenues generating $ 13.3 billion, an increase of 39% over the previous year. We remain committed to balancing operational discipline with continued investments in key strategic areas to drive future growth. ”
Microsoft will provide guidance updates in its conference call at 17.30 Eastern Time today. The call will be available on its website via a webcast.
The MSFT share rose 5% after the markets closed on Wednesday.
At the time of writing, William White had no position in any of the above securities.
Article printed from InvestorPlace Media, https://investorplace.com/2020/04/microsoft-earnings-send-msft-stock-up/.
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