Microsoft results announced – the stock jumps in the after-hours

Microsoft Corporation (NASDAQ: MSFT) reported the latest financial results on Wall Street after the market close on Tuesday. Let’s take a closer look at the results.

The US technology giant reported revenue of $52.747 billion for quarter ending on December 31, 2022 (up by 2% year-over-year), narrowly falling short of $52.987 billion revenue expected.

Earnings per share (EPS) reported at $2.32 per share (down 6% year-over-year) vs. $2.293 per share estimate.

CEO and CFO commentary

”The next major wave of computing is being born, as the Microsoft Cloud turns the world’s most advanced AI models into a new computing platform,” CEO of Microsoft, Satya Nadella looked into the future of the company.

”We are committed to helping our customers use our platforms and tools to do more with less today and innovate for the future in the new era of AI,” Nadella concluded.

Amy Hood, CFO: ”We are focused on operational excellence as we continue to invest to drive growth. Microsoft Cloud revenue was $27.1 billion, up 22% (up 29% in constant currency) year-over-year as our commercial offerings continue to drive value for our customers.”

Stock reaction

Shares of Microsoft were down by 0.22% at market close on Tuesday, trading at $241.56 a share.

The stock was up by around 4% in the after-hours.

Stock performance

• 1 month: +2.14%
• 3 months: -3.44%
• Year-to-date: +0.93%
• 1 year: -16.10%

Microsoft stock price targets

• High: $365.00
• Median: $280.00
• Low: $212.00
• Average: $284.76

Microsoft is the 3^rd largest company in the world with a market cap of $1.804 trillion.

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Sources: Microsoft Corporation, TradingView, MarketWatch, MetaTrader 5, WSJ, CompaniesMarketCap