Published , by Donovan Erskine
Published , by Donovan Erskine
It’s a busy week for earnings, as multiple companies in the tech and entertainment space are sharing their financial performance for the last quarter with investors and the general public. Among the group kicking things off is Microsoft, which has published its Q4 2022 earnings results. It’s here that we learn that Microsoft (MSFT) missed on both EPS and revenue expectations for the financial quarter.
Microsoft (MSFT) shared its Q4 2022 earnings report on its investor relations page earlier today. In the report, Google states that it made $51.9 billion in revenue for the previous quarter. This comes in just below the mean expectation of $52.4 billion. As for earnings-per-share, Microsoft reported earnings of $2.23, which misses an expectation of $2.29.
“We see real opportunity to help every customer in every industry use digital technology to overcome today’s challenges and emerge stronger,” said Satya Nadella, chairman and chief executive officer of Microsoft. “No company is better positioned than Microsoft to help organizations deliver on their digital imperative – so they can do more with less.”
The release of Microsoft’s Q4 2022 earnings report spelled out bad news for the company. Following the release of the results, Microsoft (MSFT) stock was down 2.7 percent, dropping to $245.57 per-share in after hours trading. The stock was valued as high as $259.74 earlier this morning prior to the release of the report.
Microsoft’s Q4 2022 earnings report missed both revenue and EPS expectations, but it wasn’t the only financial news of the day. Both Texas Instruments and Google also released financial reports that chronicled their recent business. For more news on the financial side of tech and entertainment, stick with Shacknews.