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[This MSFT stock story was updated July 23] Microsoft Corp. (Nasdaq: MSFT) stock is up slightly this morning (Wednesday) after the company reported earnings per share (EPS) of $0.55 and revenue of $23.38 billion yesterday afternoon.
Revenue beat expectations of $23 billion, but EPS missed analysts' estimates of $0.60 for the quarter. However, Microsoft attributed the earnings miss to its acquisition of Nokia Corp. (NYSE ADR: NOK), which the company said accounted for a loss of $0.08 per share.
For shareholders, one of the largest takeaways was the company's success in the cloud-computing industry.
"We are galvanized around our core as a productivity and platform company for the mobile-first and cloud-first world, and we are driving growth with disciplined decisions, bold innovation, and focused execution," Chief Executive Officer Satya Nadella said. "I'm proud that our aggressive move to the cloud is paying off - our commercial cloud revenue doubled again this year to a $4.4 billion annual run rate."
The company also reported that revenue from its Devices and Consumer segment grew 42% to $10 billion, and that revenue from its Commercial segment grew 11% to $13.48 billion.
For the full fiscal year 2014, MSFT reported GAAP revenue of $86.8 billion. That was a near 12% increase from 2013's total of $77.8 billion.
Nadella made headlines last week when he announced that Microsoft would be laying off approximately 18,000 employees, or 14% of the company's workforce. That news sent shares to a 52-week high of $45.15.
And while Microsoft's revenue totals from today should send the stock higher in the short term, there are more catalysts that will drive MSFT stock higher for months and years to come.
Four Bullish Catalysts Driving MSFT Stock Now
"Most investors have written this company off - or have forgotten about it altogether," Money Morning's Defense and Tech Specialist Michael Robinson said. "I think Microsoft is going to show us something very special. The stock is up nearly 20% this year; it has a $50 billion cash hoard, and a committed dividend policy. It has a new CEO. And it just spent $7 billion in a big buyout. It's the kind of corporate turnaround play that I just love."
According to Money Morning's Executive Editor Bill Patalon, there are four major catalysts driving MSFT stock now...