Why Microsoft Stock Jumped Nearly 12% in October
Shares of Microsoft (NASDAQ: MSFT) popped by 11.7% in October, according to data provided by S&P Global Market Intelligence, a majority of which came after the company reported strong fiscal first-quarter 2018 results near the end of the month.
Investors were pleased to see the company's total revenue increase by 12% year over year to $24.5 billion, and to see Microsoft's net income jump by 16%. Shareholderswere also happy with the sales results from the productivity and business processes segment -- comprised mainly of its Office products -- which grew by 28%. But the big news from the quarterly report came from the cloud computing services unit.
Image source: Microsoft.
Source: Fool.com
Microsoft Corp. Stock
€391.80
1.500%
The stock is one of the favorites of our community with 106 Buy predictions and 1 Sell predictions.
With a target price of 420 € there is a slightly positive potential of 7.2% for Microsoft Corp. compared to the current price of 391.8 €.
