Earnings Reaction Rollercoaster: Microsoft Climbs, Texas Instruments Dips
- October 24th, 2023
- 633 views
Microsoft Corporation (Nasdaq: MSFT), a technology giant, exceeded expectations in its first-quarter fiscal 2024 results, reporting earnings per share (EPS) of $2.99 and revenue of $56.52 billion, beating the consensus EPS estimate of $2.50 on revenues of $51.4 billion.
$MSFT was trading at $347.80 in after-hours, reflecting a substantial increase of $17.27 (+5.22%).
In contrast, Texas Instruments Incorporated (Nasdaq: TXN), a semiconductor company, reported earnings of $1.85 per share for the third quarter of 2023, surpassing the consensus EPS estimate of $1.81. However, the company's quarterly revenue amounted to $4.53 billion, slightly below analysts' revenue forecast of $4.57 billion.
Texas Instruments also provided an outlook for the fourth quarter of 2023, projecting revenue in the range of $3.93 billion to $4.27 billion and EPS between $1.35 and $1.57, differing from the consensus EPS estimate of $1.75 on revenue of $4.49 billion for the period.
In after-hours, $TXN was trading at $140.10, down $6.82 (-4.64%).
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