It was a mixed day for U.S. equities as telecom stocks grew 0.3%, while basic materials fell 0.6%. The S&P 500 Index slipped 0.1% Thursday, while the Dow Jones Industrial Average posted a 0.2% gain and the Nasdaq Composite fell a fraction of a percentage.
Here’s how they did:
Microsoft Corporation (MSFT)
Microsoft recently announced its earnings figures, which helped to drive the stock higher.
The tech giant managed to earn non-GAAP earnings of 83 cents a share, exceeding the consensus estimate of 79 cents per share. It was a good period for the company’s cloud business.
Microsoft has been focusing on expanding its cloud unit, which it is succeeding in doing, as this segment grew 8% — or 10% in constant currency — year-over-year to $6.9 billion. Wall Street was calling for this business to rake in between $6.55 billion and $6.75 billion.
Combined with the rest of the company’s revenue, net sales reached $26.1 billion. Analysts were expecting Microsoft to bring in $25.3 billion on average, according to StreetAccount and FactSet.
Company CEO Satya Nadella was recently appointed as a member of Starbucks’ board of directors. The coffee chain may raise its board size from 11 to 14 members.
MSFT shares grew 1.2% after the bell Thursday.