Microsoft to Buy Back up to $60 Billion in Shares; Names Brad Smith Vice Chair theepochtimes.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from theepochtimes.com Daily Mail and Mail on Sunday newspapers.
Sales in the fourth quarter, which ended June 30, climbed 21% to $46.2 billion, the Redmond, Washington-based company said Tuesday in a statement. That compared with the $44.3 billion average estimate of analysts polled by Bloomberg. Net income rose to $16.5 billion, or $2.17 a share, while analysts had predicted $1.92.
Microsoft’s market value now tops $2 trillion, and the high-flying shares have led investors to expect results to outdistance projections by a wide margin. After years of investments to make Azure a strong No. 2 in cloud services behind Amazon.com Inc., investors no longer question Chief Executive Officer Satya Nadella’s corporate transformation, but some become skittish at any indication that momentum is fading. Microsoft’s sales and margin forecasts on a conference call reassured investors about its prospects, and shares gained 1.2% in extended trading after first dropping about 2.5% following the report.
Microsoft s Windows 365 comes with advanced security features samaa.tv - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from samaa.tv Daily Mail and Mail on Sunday newspapers.
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Microsoft Corp. Chief Executive Officer Satya Nadella said the company “is on the right side of history” in the antitrust debates about whether big technology companies abuse user privacy and squash competition. While Congress and U.S. regulators have clashed with Facebook Inc., Alphabet Inc., Amazon.com Inc. and Apple Inc. over the companies’ business practices, Microsoft hasn’t received the same kind of scrutiny more than 20 years after it was sued by the U.S. Justice Department on antitrust issues. The software company “makes sure” user privacy and internet safety are among its highest priorities for products “and then when it comes to competition, I mean you should go talk to the people who are investing a lot of capital and a lot of M&A competing with Microsoft and we welcome that,” Nadella said Wednesday in an interview with Bloomberg Television.