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4/27, 10:05 PM (Source: TeleTrader)
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Microsoft reports revenue of $41.7B in Q3, up 19%

American technology company Microsoft Corporation announced on Tuesday its revenue in the fiscal third quarter landed at $41.7 billion, marking a 19% increase on the year and slightly above analyst projections.

According to the update, Microsoft had an operating income of $17 billion for the quarter, up 31% compared to the same quarter a year earlier. Meanwhile, net income was reported at $15.5 billion, up 44% year-over-year, on earnings per share of $2.03.

"Over a year into the pandemic, digital adoption curves aren’t slowing down. They’re accelerating, and it’s just the beginning. We are building the cloud for the next decade, expanding our addressable market and innovating across every layer of the tech stack to help our customers be resilient and transform," CEO Satya Nadella said.

Shares of Microsoft dropped 3.77% in after-hours trading to $252.09 following the announcement.

Breaking the News / JC