27 Jul, 2021

Microsoft posts 47% profit increase year over year… stock falls 2% after hours

The Redmond, Wash.-based company reported financial fourth-quarter sales of $46.2 billion after the bell Tuesday, up around 21% from the year-prior period. It generated a $16.5 billion profit for the period ended June 30, an increase of 47% year-over-year, exceeding Wall Street expectations. Analysts expected $44.1 billion in sales at a profit of $14.6 billion.

Microsoft’s valuation now tops $2 trillion, second only to Apple Inc., whose rivalry with Microsoft has been rekindled in recent months. Microsoft’s stock is up around 40% over the past year. The stock fell more than 2% in after-hours trading.

Wall Street Journal
Tags:

About : Kevin Bae

%d bloggers like this: