The second most valuable company in the world is Microsoft with a market capitalization of nearly $2.13 trillion. Microsoft (MSFT) will publish the fiscal year 2023 third-quarter financial results after the close of the market on Tuesday, April 25, 2023, at 2:30 PM – PT. MSFT is up by 20% in 2023 and trades around $285, the price level similar to what it was trading a year back.
Microsoft Fiscal Year 2023 Third Quarter Earnings Conference Call will be jointly held by Satya Nadella, Chairman and CEO and Amy Hood, EVP & CFO. Microsoft in March 2023 announced that its board of directors declared a quarterly dividend of $0.68 per share. The dividend is payable on June 8, 2023, to shareholders of record on May 18, 2023. The ex-dividend date will be May 17, 2023.
The Microsoft search engine Bing’s AI upgrades are making news but it remains to be seen how much that has resulted in any significant sales increase. Nevertheless, the addition of OpenAI’s technology to give ChatGPT-like answers to user questions is establishing Bing as a potential threat to Google’s search supremacy and may stimulate interest from vendors and marketers.
The top line is still being impacted by a fall in PC sales and a slowdown in cloud services; analysts anticipate the smallest constant-currency revenue increase since 2017.
In the previous quarter ending December 31, 2022, as compared to the corresponding period of the last fiscal year, Microsoft’s revenue was $52.7 billion and increased 2%, the operating income was $20.4 billion GAAP and $21.6 billion non-GAAP, and decreased 8% and 3%, respectively. The net income was $16.4 billion GAAP and $17.4 billion non-GAAP, and decreased 12% and 7%, respectively.
Microsoft’s diluted earnings per share, in the previous quarter, was $2.20 GAAP and $2.32 non-GAAP, and decreased 11% and 6%, respectively.