10-23-2014, 05:44 PM
Huge quarter for MSFT
Quote:The tech firm handed in earnings of 54 cents per share on revenue of $23.20 billion, beating Wall Street estimates of 49 cents per share on revenue of $22.02 billion, according to a consensus estimate from Thomson Reuters.
The company's devices and consumer revenue grew 47 percent to $10.96 billion, beating forecasts of $10.07 billion, according to StreetAccount.
Computing and gaming hardware sales increased by $1 billion or 74 percent, while phone hardware revenue exceeded $2.6 billion, versus StreetAccount expectations of $2.12 billion.
Commercial revenue totaled $12.28 billion, also topping estimates, with gains of about 10 percent. Its lower-margin commercial cloud business grew some 128 percent.
Investors cheered the upbeat results and the stock rose about 4 percent in after-hours trading.