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Shares in US technology company Microsoft are trading a little over 1% higher pre-market on Thursday.
The company has suffered a disappointing fall in its share price. This is despite reporting a better-than-expected set of third-quarter earnings this week.
The sell-off has come amidst the broad, risk-off tone that has swept across markets this week. It also comes as a result of the weaker Q4 guidance offered by Microsoft.
In Q3, the company reported earnings per share of $1.82, beating estimates of a $1.54 result. Additionally, revenues came in at $37.15 billion over the quarter, comfortably beating estimates for a $35.72 billion result.
Azure Sees Big Growth Again
Looking at the breakdown of the data, the Azure cloud business was once again a big winner for Microsoft.
It noted a revenue growth of 48% over the quarter, beating the 47% result from the prior quarter. It also surpassed analyst expectations of a 44% growth rate.
Cloud Revenues Continue to Rise
The company’s overall cloud ...
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