Microsoft lowers forecast for Q4 over strong dollar

EPA-EFE/DAVID CHANG

Microsoft Corp. said on Thursday it has reduced its profit and revenue forecast for the final quarter of 2021 due to the strengthening of the American dollar versus other major currencies.

With the latest change, Microsoft now sees fourth-quarter revenue landing at between $51.94 billion and $52.74 billion, with profit sliding to between $2.24 and $2.32 per share.

Microsoft's shares plunged over 3% at the opening bell following the tech giant's statement as inflation concerns continued to worry investors.

Baha Breaking News (BBN) / ND