Microsoft Cuts 4Q Guidance on Foreign Exchange Effect
June 02 2022 - 9:48AM
Dow Jones News
By Will Feuer
Microsoft Corp. cut sales and earnings guidance for the fourth
quarter, citing unfavorable foreign exchange rates as the stronger
U.S. dollar takes a toll.
The company now expects fiscal fourth-quarter sales of $51.94
billion to $52.74 billion, down from its prior guidance of $52.4
billion to $53.2 billion. The quarter ends June 30.
Earnings are expected to be between $2.24 a share and $2.32 a
share, down from prior guidance of $2.28 a share to $2.35 a
share.
Shares of Microsoft fell more than 2% in premarket trading to
$266.02 a share.
Write to Will Feuer at Will.Feuer@wsj.com
(END) Dow Jones Newswires
June 02, 2022 09:33 ET (13:33 GMT)
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