Microsoft Earnings Beat Estimates, Buys Favorable
On Tuesday (19/7), Microsoft Corporation published its latest earnings result after the closing bell. The technology company posted adjusted earnings of 69 cents per share for the fourth quarter of fiscal year 2016, beating the analysts’ expectation of 58 cents EPS. Additionally, the company’s revenue came in at $22.6 billion, surpassing the reading of $22.18 billion in revenue for the fourth quarter of fiscal year 2015. This encouraging result was driven by cost cutting and increasing revenue in sectors like cloud computing and subscription services. As a result, Microsoft shares ticked up 3% in Tuesday’s after-market action. On the H4 chart, ADX (14) edged down to the level of 42.8115, indicating that the bearish trend is becoming weaker. The price is anticipated to rally more.
Buy stop at 53.06, Take profit at 53.31, Stop loss at 52.86