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Information Technology : Software | Large Cap Growth
Company profile

Microsoft Corporation is a technology company. The Company develops and supports software, services, devices, and solutions. Its segments include Productivity and Business Processes, Intelligent Cloud, and More Personal Computing. The Productivity and Business Processes segment consists of products and services in its portfolio of productivity, communication, and information services, spanning a variety of devices and platforms. This segment includes Office Consumer, LinkedIn, dynamics business solutions, and Office Commercial. The Intelligent Cloud segment consists of public, private, and hybrid server products and cloud services that can power modern businesses and developers. This segment includes server products and cloud services, and enterprise services. The More Personal Computing segment consists of products and services that put customers at the centre of the experience with its technology. This segment includes Windows, devices, gaming, and search and news advertising.

Premarket

Last Trade
Delayed
$292.75
-0.72 (-0.25%)
Bid
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Ask
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B/A Size
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Market Hours

Closing Price
$293.47
Day's Change
0.00 (0.00%)
Bid close
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Ask close
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B/A Size
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Day's High
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Day's Low
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Volume
(Light)
Volume:
6,860

10-day average volume:
20,933,269
6,860

Big Lots stock drops after profit misses expectations but sales top forecasts, after a 'tough' January

7:08 am ET March 3, 2022 (MarketWatch)
Print

Shares of Big Lots Inc. (BIG) dropped 2.8% in premarket trading Thursday, after the discount retailer reported fiscal fourth-quarter profit and that missed expectations while sales topped, citing a "tough" month of January, and provided a downbeat outlook for the current quarter. Net income for the quarter to Jan. 29 fell to $49.8 million, or $1.63 a share, from $98.0 million, or $2.59 a share, in the year-ago period. Excluding nonrecurring items, adjusted earnings per share of $1.75 was below the FactSet consensus of $1.89. Sales slipped 0.3% to $1.73 billion, topping the FactSet consensus of $1.72 billion, as same-store sales fell 2.3% to beat expectations of a 3.1% decline. Gross margin declined to 37.3% from 39.4%. "January was a tough month as inclement weather and the Omicron spike caused a slowdown in our business, further impacted by inventory delays in key areas," said Chief Executive Bruce Thorn. "However, as we have moved into 2022, we have seen these factors abate, and sales are regaining traction." For the first quarter, the company expects EPS of $1.10 to $1.20 and a "low double-digit" percentage decline in sales. The FactSet EPS consensus is $1.44 and the sales consensus of $1.51 billion implies a 7.3% decline. The stock has tumbled 18.8% over the past three months through Wednesday, while the S&P 500 has slipped 3.4%.

-Tomi Kilgore

	

(END) Dow Jones Newswires

March 03, 2022 07:08 ET (12:08 GMT)

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