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Microsoft misses Street 3Q forecasts

REDMOND, Wash. (AP) _ Microsoft Corp. (MSFT) on Thursday reported fiscal third-quarter profit of $3.76 billion.

The Redmond, Washington-based company said it had profit of 47 cents per share. Earnings, adjusted for non-recurring costs, came to 62 cents per share.

The results did not meet Wall Street expectations. The average estimate of 12 analysts surveyed by Zacks Investment Research was for earnings of 63 cents per share.

The software maker posted revenue of $20.53 billion in the period, also falling short of Street forecasts. Seven analysts surveyed by Zacks expected $21.61 billion.

Microsoft shares have climbed 0.5 per cent since the beginning of the year, while the Standard & Poor’s 500 index has climbed slightly more than 2 per cent. In the final minutes of trading on Thursday, shares hit $55.78, an increase of 31 per cent in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on MSFT at http://www.zacks.com/ap/MSFT

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Keywords: Microsoft, Earnings Report, Priority Earnings