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Microsoft (MSFT) Q3 earnings 2024 [Video]

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Microsoft shares rose as much as 5% in extended trading on Thursday after the software maker issued fiscal third-quarter results that outdid Wall Street’s expectations.

Here’s how the company did in comparison with the consensus from LSEG: 

  • Earnings per share: $2.94 vs. $2.82 expected
  • Revenue: $61.86 vs. $60.80 billion expected

Microsoft’s total revenue grew 17% year over year in the quarter, which ended on March 31, according to a statement. Net income, at $21.94 billion, or $2.94 per share, was up from $18.30 billion, or $2.45 per share in the year-ago quarter.

With respect to guidance, Microsoft’s finance chief, Amy Hood, called for $64 billion in revenue for the fiscal fourth quarter, below the $64.5 billion LSEG consensus. Hood’s forecast implies an operating margin of 42.3%, ahead of the StreetAccount consensus of 41.5%.

“Currently, near-term AI demand is a bit higher than our available capacity,” Hood said. Microsoft has been increasing its capital expenditures to secure Nvidia

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