Microsoft Corporation (NASDAQ:MSFT) – Here’s Why Microsoft Shares Are Popping After Hours

Microsoft Corporation (NASDAQ: MSFT) shares traded lower in Tuesday’s after-hours session, but reversed course during the evening’s conference call.

Microsoft reported second-quarter earnings of $2.48 per share, which beat the analyst consensus estimate of $2.31. The company reported quarterly sales of $51.70 billion, which beat the analyst consensus estimate of $50.88 billion.

See Also: Microsoft Q2 Earnings Takeaways: Cloud Revenue Hits $22.1B, Xbox Revenue Up 10% And More

Microsoft’s stock fell about 4% following the earnings print, likely because the company didn’t issue any guidance. However, around 6:10 p.m. ET during the conference call, the stock popped after the company issued guidance:

  • Sees Q3 More Personal Computing Revenue of $14.15B-$14.45B
  • Sees Q3 Intelligent Cloud Revenue of $18.75B-$19.0B
  • Says Interest Income and Expense Should Offset Each Other in Q3

Microsoft shares were down nearly 4% to $277.30, but are up 2.5% to $295.65 at publication time. The stock has a 52-week high of $349.67 and a 52-week low of $224.22.

Watch the earnings call in the video below:

© 2022 Benzinga does not provide investment advice. All rights reserved.

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