REDMOND, Wash. (AP) _ Microsoft Corp. (MSFT) on Tuesday reported fiscal fourth-quarter net income of $3.12 billion, after reporting a loss in the same period a year earlier.
The Redmond, Washington-based company said it had profit of 39 cents per share. Earnings, adjusted for non-recurring costs and asset impairment costs, were 69 cents per share.
The results surpassed Wall Street expectations. The average estimate of 13 analysts surveyed by Zacks Investment Research was for earnings of 58 cents per share.
The software maker posted revenue of $20.61 billion in the period, which did not meet Street forecasts. Eight analysts surveyed by Zacks expected $22.11 billion.
Microsoft shares have dropped slightly more than 4 per cent since the beginning of the year, while the Standard & Poor’s 500 index has increased almost 6 per cent. In the final minutes of trading on Tuesday, shares hit $53.09, an increase of 13 per cent 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 http://www.zacks.com/ap/MSFT
Keywords: Microsoft, Earnings Report, Priority Earnings