REDMOND, Wash. (AP) _ Microsoft Corp. (MSFT) on Wednesday reported fiscal third-quarter earnings of $10.75 billion.
On a per-share basis, the Redmond, Washington-based company said it had net income of $1.40.
The results exceeded Wall Street expectations. The average estimate of 13 analysts surveyed by Zacks Investment Research was for earnings of $1.27 per share.
The software maker posted revenue of $35.02 billion in the period, also exceeding Street forecasts. Ten analysts surveyed by Zacks expected $33.86 billion.
Microsoft shares have risen 12% since the beginning of the year, while the Standard & Poor’s 500 index has declined 9%. In the final minutes of trading on Wednesday, shares hit $176.59, a rise of 36% in the last 12 months.
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on MSFT at https://www.zacks.com/ap/MSFT
The Associated Press