Why Microsoft Stock Wilted on Wednesday
The eyes of a great many investors were on (NASDAQ: MSFT) after the market closed on Tuesday. That's when the tech giant published its latest set of quarterly results. While these certainly weren't bad, certain fundamentals were concerning enough to inspire a bit of a sell-off in the company's stock the following day. Microsoft's share price slipped by a bit over 1% on Wednesday, while the S 500 index notched a 1.6% gain.
Microsoft divulged that it earned $64.7 billion in its fourth quarter of fiscal 2024, for a 15% year-over-year increase. Net income, according to generally accepted accounting principles (GAAP) standards, was just over $22 billion, or $2.95 per share, representing a nearly 10% improvement over the year-ago profit.
Growth in headline figures is always welcomed by investors. However, Microsoft only marginally beat the average analyst estimates. Collectively, prognosticators tracking the stock were modeling just under $64.4 billion for revenue and $2.94 in per-share net income.
Source Fool.com
Microsoft Corp. Stock
The stock is one of the favorites of our community with 112 Buy predictions and 1 Sell predictions.
With a target price of 425 € there is a slightly positive potential of 9.71% for Microsoft Corp. compared to the current price of 387.4 €.
