ETFs With Heavy Microsoft Exposure To Fly Post Q3 Results
Zacks Investment Research | Apr 26, 2018 10:36PM ET
After the closing bell on Thursday, the world's largest software maker Microsoft (NASDAQ:MSFT) delighted investors with stellar fiscal third-quarter 2018 results on strong performance in its fast-growing cloud business and Office 365 productivity suite. It also provided a bullish forecast for the final quarter of the fiscal year.
Earnings per share came in at 95 cents, easily outpacing the Zacks Consensus Estimate of a dime and improving 36% from the year-ago earnings. Revenues rose 16% year over year to $26.8 billion, topping the estimate of $25.71 billion.
The outperformance was credited to the strength in the cloud business, particularly Azure, sales of which grew 93% from the year-ago period. Per research firm Canalys, Azure has been growing rapidly in the $15.6 billion cloud computing market and holds the second position with 14% of the market, trailing Amazon.com’s (NASDAQ:AMZN) Amazon Web Services with 32% market share (read: Zacks Investment Research
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