5 Much-Awaited Earnings Reports to Watch

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1. Microsoft Corporation (NASDAQ:MSFT)

Number of Hedge Fund Holders: 262

Shares of Microsoft Corporation (NASDAQ:MSFT) rose over three percent in the pre-market trading session on Wednesday, April 27, 2022, following an impressive financial performance for its fiscal third quarter.

Microsoft Corporation (NASDAQ:MSFT) reported earnings of $2.22 per share, up from $2.03 per share in the comparable period of 2021. Analysts were expecting the software giant to earn $2.19 per share.

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In addition, Microsoft Corporation (NASDAQ:MSFT) posted revenue of $49.36 billion, representing a surge of 18 percent over the same quarter of the prior year. The quarterly revenue also exceeded the consensus of $49.05 billion.

Microsoft Corporation (NASDAQ:MSFT) reported that revenue from its Productivity and Business Processes segment jumped 17 percent to $15.8 billion. The surge was mainly driven by solid demand for its office productivity software, such as Office 365. In comparison, its Intelligent Cloud revenue climbed 26 percent to $19.1 billion, while revenue from the More Personal Computing segment rose 11 percent to $14.5 billion in the quarter.

Among other updates, Microsoft Corporation (NASDAQ:MSFT) announced that it returned $12.4 billion to investors in the form of share buybacks and dividends during the third quarter ended March 31.

Speaking on the results, CEO Satya Nadella said in a statement:

“Going forward, digital technology will be the key input that powers the world’s economic output. Across the tech stack, we are expanding our opportunity and taking share as we help customers differentiate, build resilience, and do more with less.”

You can also take a peek at 10 Favorite Stocks of Billionaire Izzy Englander and 10 Favorite Stocks of Dan Loeb’s Third Point.

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