Why Microsoft Stock Popped This Week
Shares of tech giant Microsoft (NASDAQ: MSFT) spiked this week after the company reported better-than-expected revenue and earnings in its fiscal third quarter. The company's Azure cloud computing service and Microsoft 365 products are firing on all cylinders, which was welcome news to investors, many of whom have lost their appetite for some tech stocks as of late.With the company's impressive quarterly results, Microsoft stock was up by 9.5% this week, according to data compiled by S&P Global Market Intelligence.Microsoft's sales were up 13% from the year-ago quarter to $70 billion, easily beating Wall Street's consensus estimate of $68.4 billion for the quarter. The company's earnings of $3.46 per share also topped estimates of $3.22, representing an 18% jump year over year.Continue reading
Shares of tech giant Microsoft (NASDAQ: MSFT) spiked this week after the company reported better-than-expected revenue and earnings in its fiscal third quarter. The company's Azure cloud computing service and Microsoft 365 products are firing on all cylinders, which was welcome news to investors, many of whom have lost their appetite for some tech stocks as of late.
With the company's impressive quarterly results, Microsoft stock was up by 9.5% this week, according to data compiled by S&P Global Market Intelligence.
Microsoft's sales were up 13% from the year-ago quarter to $70 billion, easily beating Wall Street's consensus estimate of $68.4 billion for the quarter. The company's earnings of $3.46 per share also topped estimates of $3.22, representing an 18% jump year over year.
