Microsoft and Procter & Gamble and other mega cap stocks have published their quarterly earnings.
The leading indices are showing gains — Nasdaq up 0.55%, trading at 11,376. S&P 500 goes up 0.21%, trading at 4,025.
What is an earnings report?
An earnings report is an official statement of a company's profitability over a certain period of time. Usually, these reports are released four times a year (quarterly reports) and have a significant impact on the market. These announcements are typically taken into consideration when making predictions.
Markets are up and mega cap stocks have released their quarterly earnings reports. Have a look.
Microsoft: mixed results
Microsoft reported earnings results Tuesday, with EPS at 2.32 and revenues at $52.75 billion; these results are mixed when compared to a consensus of 2.27 Earnings Per Share and $52.96 billion revenue. Since the release of its earnings report, Microsoft gained 0.58%.
Although Microsoft increased from $240.61 to $246.06, the stock dropped back and is now priced at $243.98.
The consumer goods company slides down from $141.72 to $141.03, losing 69 cents (0.49%).