Analysts reset Microsoft stock target amid post-earnings rally
Microsoft’s earnings reassure investors.
Shares of Microsoft (MSFT) surged 7.6% on the first trading day of May after the tech giant reported strong earnings and guidance that lifted investor confidence.
For the fiscal third quarter ending March 31, the $3 trillion company reported earnings of $3.46 per share, up 18% from a year ago and above analysts’ estimate of $3.22. Revenue increased by 13% year over year to $70.07 billion, topping Wall Street’s forecast of $68.42 billion.
