Science

Microsoft set to report earnings after the closing bell

Microsoft set to report earnings after the closing bell”

Microsoft's cloud business drove 13% revenue growth in the fourth quarter of its 2017 fiscal year, while the company's earnings topped Wall Street targets thanks in large part to a hefty tax writeoff from its mostly-shuttered phone business. In the year-ago quarter, the tech giant posted adjusted earnings of 69 cents per share. Microsoft attributes the dip to the continued drag from its smartphone business. On average, Wall Street expects Q4 adjusted EPS of 71 cents, up only slightly from 69 cents a year ago. The total revenue estimate includes expected contributions of $8.4 billion from the company's Productivity and Business Solutions segment, $8.6 billion from the company's More Personal Computing segment, and $7.32 billion for the Intelligent Cloud business.

The Redmond company in the last few years has been reshaping its business from one-time sales of software licenses to subscription services in the cloud. The costs of running those facilities has weighed on the company's profitability.

During the just completed fiscal year, Microsoft took home 62 cents of every dollar of sales in gross profit, down from more than 80 cents in 2010.

Azure, Microsoft's cloud business, is becoming increasingly important as Wall Street turns its attention to cloud computing and the cloud transition by legacy names such as Microsoft.

Microsoft set to report earnings after the closing bell

Microsoft Corporation shares were trading at $73.49 per share on Thursday morning, down $0.37 (-0.50%).

LinkedIn revenue was also up in the last quarter and went from $975 million in Q3 to $1.065 billion in the last quarter. Non-GAAP net income equaled $7.7 billion, or earnings of 98 cents per share, on revenue of $24.7 billion.

Stripping out sales of the Windows operating system that Microsoft officially defers to future quarters, Microsoft's earnings per share were 83 cents, from 39 cents a share a year earlier. Revenue was $23.3 billion GAAP and Net income was $6.5 billion GAAP.



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