Shares of Microsoft (MSFT) advanced to $39.86 at the close today in New York and have risen more than 2 percent in after hours trading Thursday, after the software giant reported Q3 FY 2014 revenue and EPS that beat analysts’ expectations.
The Redmond-Wa.-based firm reported $0.68 earnings per share for the quarter. The consensus estimate was for EPS of $0.63.
Propelled by strong sales in the cloud-computing market, revenue in the third quarter ended March 31 came in at $20.40 billion compared to the consensus estimate of $20.39 billion. Gross margin, operating income and net income for the quarter were $14.46 billion, $6.97 billion and $5.66 billion, respectively.
“This quarter’s results demonstrate the strength of our business, as well as the opportunities we see in a mobile-first, cloud-first world. We are making good progress in our consumer services like Bing and Office 365 Home, and our commercial customers continue to embrace our cloud solutions. Both position us well for long-term growth,” said in a statement Satya Nadella, Microsoft’s chief executive officer. “We are focused on executing rapidly and delivering bold, innovative products that people love to use.”
“We delivered solid, broad-based financial results driven by strong execution and continued cost discipline,” said Amy Hood, executive VP and CFO at Microsoft. “We are focusing our resources to drive growth and long-term shareholder value.”
MSFT has an average 30 day trading volume of 37.9 million shares. The ticker has a 52wk range of $30.60 – $41.66. The company has a current market cap of $330 billion and a t12 P/E ratio of 14.70.
Shares of M’soft have leaped almost 25 percent in the last 52 weeks.