Most Viewed Content:

Toyota responds to continued production cuts in the next 3 months: easing pressure on dealer earnings

In response to the news that "production will continue...

OpenAI Launched Assistants API, Allowing Developers to Customize AI Assistants with One Click

At today's OpenAI's first developer conference, OpenAI launched the...

India’s censorship body gave power to remove pirated Movies from platforms

India’s Ministry of Information and Broadcasting announced that its...

Microsoft’s Q3 net profit is up 9% on $18.3bn, and shares are up over 5%

(NASDAQ: MSFT) reported results for the third quarter of fiscal year 2023, which ended on March 31. According to the results, Microsoft’s revenue for the third quarter was $52.857 billion, up 7% from $49.360 billion a year earlier and up 10% on a constant currency basis, while net income was $18.299 billion, up 9% from $16.728 billion a year earlier and up 14% on a constant currency basis.

Microsoft Logo

Microsoft Corporation

Microsoft’s third-quarter revenue and earnings per share both beat analysts’ consensus estimates, pushing the stock up more than 5% in after-hours trading.
Stock performance:

Microsoft shares are up 5.37% after hours

Microsoft opened at $179.51 on the Nasdaq exchange on Tuesday. By Tuesday’s close, Microsoft shares were down $6.35, or 2.25%, to close at $275.42. Microsoft shares rose $14.78, or 5.37%, to $290.20 in after-hours trading as of 17:47 EDT Tuesday (5:47 GMT Wednesday). Over the past 52 weeks, Microsoft shares have traded as high as $294.18 and as low as $213.43.
Fiscal third-quarter earnings highlights:

— Total revenue was $52,857 million, up 7% from $49,360 million a year earlier and up 10% year-over-year on a constant currency basis;

— Operating profit of US$22,352 million, up 10% from US$20,364 million a year earlier, and up 15% year-on-year at constant exchange rates;

— net profit of US$18,299 million, up 9% from US$16,728 million a year earlier and up 14% year-on-year at constant exchange rates

— Diluted earnings per share of US$2.45, up 10% from US$2.22 in the prior year period and up 14% year-on-year at constant exchange rates;
Segment results:

— Productivity and Business Processes segment revenue of $17,516 million in the third fiscal quarter, up 11% from $15,789 million in the prior-year period and up 15% year-over-year in constant currency;

— Smart Cloud segment revenue for the third fiscal quarter was $22,081 million, up 16% from $18,987 million in the prior-year period and up 19% year-over-year at constant currency;

— More Personal Computing segment revenue for the third quarter was $13,260 million, down 9% from $14,584 million in the prior year quarter and down 7% year-over-year at constant currency.
Executive Commentary:

The world’s most advanced artificial intelligence models will be combined with the world’s most versatile user interface — natural language — to create a new era of computing. On the Microsoft Cloud Platform, we are the platform of choice to help customers get the most value from their digital spend and innovate for the next generation of artificial intelligence.”

Latest

Latest preview image of Changan Mazda’s new car is released

Changan Mazda recently released a preview image of a...

Future iCAR: Three Sequences and Product Plans Exposed

Recently, the much-anticipated Chery iCAR V23 officially debuted. The...

Google Pixel 8a Renders Leaked: Blue, Green, Black and White Color Variant

Google’s previously released mid-range phone Pixel 7a has been...

Polestar Phone warms up, unveiling new experience on April 16

Geely's Polestar Motor announced that the Polestar Phone will...

Newsletter

Don't miss

Latest preview image of Changan Mazda’s new car is released

Changan Mazda recently released a preview image of a...

Future iCAR: Three Sequences and Product Plans Exposed

Recently, the much-anticipated Chery iCAR V23 officially debuted. The...

Google Pixel 8a Renders Leaked: Blue, Green, Black and White Color Variant

Google’s previously released mid-range phone Pixel 7a has been...

Polestar Phone warms up, unveiling new experience on April 16

Geely's Polestar Motor announced that the Polestar Phone will...

Range Rover EV model to be released this year, using an 800V high-voltage platform

The pure electric version of the Range Rover will...
Threza Gabriel
Threza Gabrielhttps://www.techgoing.com
Threza Gabriel is a news writer at TechGoing. TechGoing is a global tech media to brings you the latest technology stories, including smartphones, electric vehicles, smart home devices, gaming, wearable gadgets, and all tech trending.

Dongfeng Honda e:NS2 official picture released

Recently, we obtained a set of official pictures of the Dongfeng Honda e:NS2 model. The new car has previously completed the application for the...

Neta L extended range model to be officially launched on April 20

We learned from the official Neta Automobile that the Neta L extended range model will be officially launched on April 20. The car is...

Apple iPhone SE 4 specifications exposed: 6.1-inch 60Hz screen, A16 Bionic chip

Source Nguyen Phi Hung recently issued a series of tweets, sharing the detailed specifications of Apple’s iPhone SE 4 phone. Apple iPhone SE 4 will...