As per reports, Microsoft (MSFT) has cut its fourth-quarter forecast for profit and revenue citing a hit from a stronger dollar. Microsoft, which earns half its revenue from outside the United States, has lowered its revenue forecast for all three segments, including Windows products, personal computing, and cloud services.
Microsoft earns the majority of its revenue from its cloud units and expects revenue for the quarter to be between $51.94 billion and $52.74 billion, lower than its earlier range of $52.40 billion to $53.20 billion. The technology giant cut the profit view to between $2.24 and $2.32 per share from a prior expectation of between $2.28 and $2.35 per share. Analysts are forecasting earnings of $2.33 per share on revenue of $52.87 billion. In April, Microsoft forecast double-digit revenue growth for the next fiscal year, boosted by demand for cloud computing services.
Recently, Salesforce.com, Coca-Cola Co, Procter & Gamble and Philip Morris International Inc. also warned of a profit hit due to a stronger dollar.
Redmond, Washington-based American multinational technology company Microsoft (MSFT) develops, manufactures, licenses supports, and sells computer software, consumer electronics, personal computers, and related services. To learn more about Microsoft (MSFT) and to track their progress please visit the Vista Partners Coverage Page.
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