Cloud business optimism fails to lift Microsoft stock
July 23, 2015
Grazed from InvestorsBusinessDaily. Author: Patrick Seitz.
Microsoft played up its cloud computing transition, but its June-quarter earnings report went over like a lead balloon with investors on Wednesday. Microsoft shares fell 3.7% to 45.51 on Wednesday after the company late Tuesday posted its fiscal fourth-quarter results. Microsoft’s sales fell 5% year over year to $22.2 billion in its fiscal Q4 ended June 30.
Excluding the impact of foreign currency exchange rates, Microsoft’s revenue would have fallen 2%. It was just the second quarter in at least the last four years that Microsoft’s sales have declined on a year-over-year basis. Microsoft earned 62 cents a share excluding items, up 11% from a year earlier…
But factoring in its massive impairment charge and restructuring expenses related to its Nokia (NYSE:NOK) phone unit acquisition, Microsoft lost $3.2 billion, or 40 cents a share…
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