Dow component Microsoft Corporation (MSFT) is trading at an all-time high near $238 in Wednesday’s pre-market after beating fiscal second quarter 2021 top- and bottom-line estimates by wide margins and raising third quarter guidance. Mr. Softee posted a profit of $2.03 per share during the quarter, beating expectations by $0.62, while revenue grew 16.7% year over year to $43.08 billion, better than the $40.23 billion consensus. Third quarter revenue is now expected to exceed prior estimates by more than $2 billion.
- Microsoft reported much better-than-expected fiscal second quarter 2021 earnings.
- The stock is trading at an all-time high ahead of the opening bell.
- Price action could test the breakout in the regular session.
- The uptrend could reach $300 in 2021.
Azure cloud computing services rose an impressive 50% year over year, on par with 48% growth in the first quarter and 47% in the fourth quarter of 2020. Xbox income surged 40%, which isn’t surprising given the new generation console release during the quarter. Traditional products reported decent metrics as well, with Office and LinkedIn products adding modestly to revenue while Windows OEM brought up the rear, posting just 1% growth.
The overnight rally lifted Microsoft stock above September Source…