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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:
8,282

10-day average volume:
20,933,269
8,282

Pinduoduo stock surges after big profit and revenue beats, as gross margin improves sharply

6:45 am ET May 27, 2022 (MarketWatch)
Print

The U.S. listed shares of Pinduoduo Inc. (PDD) charged 9.5% higher in premarket trading Friday, after the China-based mobile marketplace reported first-quarter profit and revenue that rose well above expectations, as gross margin improved sharply with costs falling. The company swung to net income of RMB2.60 billion ($410.1 million), or RMB1.84 a share, from a net loss of RMB2.91 billion, or RMB2.33 a share, in the year-ago period. Excluding nonrecurring items, adjusted earnings per American depositary share of RMB2.95 beat the FactSet consensus of RMB1.83. Revenue grew 7.3% to RMB23.79 billion ($3.75 billion), above the FactSet consensus of RMB20.45 billion, while costs of revenue fell 33.4% improved to 69.9% from 51.5%. Average monthly active users rose 4% to 751.3 million and active buyers in the 12 months to March 31 increased 7% to 881.9 million. The stock has tumbled 28.1% year to date through Thursday, while the iShares MSCI China ETF (MCHI) has dropped 20.4% and the S&P 500 has shed 14.9%.

-Tomi Kilgore

	

(END) Dow Jones Newswires

May 27, 2022 06:45 ET (10:45 GMT)

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