Microsoft Cuts Earnings and Revenue Guidance, Citing a Stronger U.S. Dollar
Tech giant’s stock slips; it is the latest company to warn of the dollar’s impact on financials
Microsoft cut sales and earnings guidance for the current quarter, citing the impact of foreign exchange rates as the stronger U.S. dollar takes a toll.
The software giant said in a securities filing Thursday that it now expects fiscal fourth-quarter sales of between $51.94 billion and $52.74 billion, down from its prior guidance of $52.4 billion to $53.2 billion. The quarter ends June 30.