Microsoft beats expectations but shares fall in after-hours trading

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Microsoft beats expectations but shares fall in after-hours trading
Photo: Thibault Camus/AP/TT

Software giant Microsoft beat expectations in its quarterly report, yet the company's stock is falling sharply.

Earnings per share came in at $4.14 during the quarter, compared with the $3.97 analysts expected on average, according to research firm LSEG, CNBC reports.

Revenue was $81.27 billion, better than the $80.27 billion expected by LSEG. This means revenue rose 17 percent from a year earlier.

Pre-tax profit was recorded at $38.46 billion - a sharp increase compared to $24.11 billion a year earlier.

Revenue from cloud services rose 39 percent from a year earlier. This was slightly lower than the expected 39.4 percent.

About half an hour after the report was released, Microsoft's stock had fallen 4.3 percent in after-hours trading on the New York Stock Exchange.

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By TT News AgencyEnglish edition by Sweden Herald, adapted for our readers

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