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Microsoft beats Street 4Q forecasts

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REDMOND, Wash. _ Microsoft Corp. on Thursday reported fiscal fourth-quarter earnings of $6.51 billion. The average estimate of 14 analysts surveyed by Zacks Investment Research was for earnings of 71 cents per share. Microsoft shares have risen 19 percent since the…
REDMOND, Wash. (AP) _ Microsoft Corp. (MSFT) on Thursday reported fiscal fourth-quarter earnings of $6.51 billion.
The Redmond, Washington-based company said it had net income of 83 cents per share. Earnings, adjusted for non-recurring costs and asset impairment costs, came to 98 cents per share.
The results beat Wall Street expectations. The average estimate of 14 analysts surveyed by Zacks Investment Research was for earnings of 71 cents per share.
The software maker posted revenue of $23.32 billion in the period. Its adjusted revenue was $24.7 billion, which also topped Street forecasts. Eight analysts surveyed by Zacks expected $24.19 billion.
Microsoft shares have risen 19 percent since the beginning of the year, while the Standard & Poor’s 500 index has risen 10 percent. In the final minutes of trading on Thursday, shares hit $74.24, a climb of 33 percent in the last 12 months.
This story was generated by Automated Insights (http: //automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on MSFT at https: //www.zacks.com/ap/MSFT
Keywords: Microsoft, Earnings Report, Priority Earnings

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