Microsoft Corporation (MSFT) has reduced its guidance for the fourth quarter, citing “unfavorable foreign exchange rate movement in the quarter through May.” The company had originally projected revenue of $52.40 to $53.20. Now, the updated guidance forecasts revenue of between $51.94 and $52.74. The change reflects an additional FX impact of $.46. Additionally, net income forecasts of $17.10 to $17.67 have been reduced. They are now between $16.85 and $17.43, reflecting an additional FX impact of $.25. Diluted EPS, originally projected to fall between $2.28 and $2.35, is now guided for $2.24 to $2.32.
https://www.tipranks.com/tv/market-updates/breaking-news-microsoft-cuts-q4-guidance?utm_source=advfn.com&utm_medium=referral