Microsoft shares hit record highs on strong earnings
Microsoft profit jumped from less than $9 billion a year ago to more than $13 billion in fourth quarter.
The company beat analysts’ estimates for fourth-quarter revenue and profit, stocks jump
Stocks impacted: Microsoft Corp (MSFT)
As such, the company finished its 2019 fiscal year with net profit of $36.8 billion, up 21.6% from the year before, and sales grew more than 14% to $125.8 billion. For the fiscal fourth quarter, Microsoft reported profit of $13.19 billion, or $1.71 a share, up from $8.87 billion, or $1.14 a share, a year ago. Revenue in Microsoft’s productivity software unit jumped 14.3% to $11.05 billion. Moreover, the giant predicts revenue and operating profit will again grow by double-digit percentages in new fiscal year. After the report, Microsoft shares hit record highs. Stocks have gained over 34% so far this year.
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