Glory Days For Microsoft
“And I hope when I get old I don’t sit around thinking about it
but I probably will.
Yeah, just sitting back trying to recapture
a little of the glory of, well time slips away
and leaves you with nothing mister
but boring stories of glory days.”
– Bruce Springsteen, “Glory Days”
For the second quarter in a row, Microsoft (MSFT) delivered in a big way. Revenues of $16.37 billion and EPS of 50 cents beat analysts expectations ($15.95 billion, 46 cents) and were up 30% and 92%, respectively.
Not only that, but their forecast for the next quarter was in line with analysts estimates and for the full year they forecast revenue between $59.9 billion and $60.5 billion and EPS between $1.85 and $1.89 compared to analyst estimates of $59.4 billion and $1.81 (MSFT FY 2Q Earnings Release).
Microsoft’s shares are up 3-4% in after hours and this report should provide the catalyst for a nice rally in oversold tech tomorrow.
Disclosure: Top Gun has no position in Microsoft (MSFT) shares but is long the Nasdaq-100 (QQQQ), of which Microsoft is a large component.