REDMOND, Wash. (AP) _ Microsoft Corp. (MSFT) on Wednesday reported fiscal third-quarter earnings of $8.81 billion.
The Redmond, Washington-based company said it had profit of $1.14 per share.
The results exceeded Wall Street expectations. The average estimate of 14 analysts surveyed by Zacks Investment Research was for earnings of $1 per share.
The software maker posted revenue of $30.57 billion in the period, also topping Street forecasts. Eleven analysts surveyed by Zacks expected $29.84 billion.
Microsoft shares have risen 23 per cent since the beginning of the year, while the Standard & Poor’s 500 index has risen 17 per cent. In the final minutes of trading on Wednesday, shares hit $125.07, an increase of 34 per cent in the last 12 months.
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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 https://www.zacks.com/ap/MSFT
The Associated Press
