Markets

Microsoft sees $46 billion in market value erased after missing quarterly estimates for key businesses

Microsoft shares tumbled as much as 2.8% on Thursday after its cloud-computing and office software business missed quarterly estimates. The slump saw roughly $US46 billion erased from the tech giant’s market cap. A “continued customer shift to cloud offerings from multi-year on-premises agreements” harmed the company’s transactional licensing business, Microsoft […]
Microsoft sees $46 billion in market value erased after missing quarterly estimates for key businesses