Microsoft Shares Down More Than 2% After Revenue Miss

By Claudia Assis Markets MarketWatch Pulse

Shares of Microsoft Corp. fell late Thursday after the software company reported quarterly sales below Wall Street expectations. Microsoft said it earned $4.8 billion, or 61 cents a share, in the fiscal third quarter, compared with $3.8 billion, or 47 cents a share, in the year-ago period. Adjusted for one-time items, the company earned $5.7 billion, or 73 cents a share, compared with $5 billion, or 63 cents a share, a year ago. Revenue was $22.1 billion, up from $20.5 billion in the fiscal third quarter of 2016. Analysts polled by FactSet had expected the company to report adjusted earnings of 70 cents a share on sales of $23.6 billion. "Our results this quarter reflect the trust customers are placing in the Microsoft Cloud," Chief Executive Satya Nadella said in a statement. The shares had ended the regular session up 0.7%

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