Microsoft Exceeds Expectations; Amazon Posts Net Loss of $437M in Q3
Stocks end the day higher due to some strong corporate earnings reports from Caterpillar (CAT), General Motors (GM), and Microsoft (MSFT); but a recent Ebola scare trimmed the Dow's gains late in the afternoon trading session. Microsoft topped Wall Street's estimates of 49 cents a year, earning 54 cents a share. The technology giant also exceeded Wall Street's revenue expectations earning $23.2 billion, $1.2 billion higher than the expected $22 billion.Amazon (AMZN) warned that it was going to post a massive loss in Q3, and they didn't disappoint. Amazon posted a net loss of $437 million in Q3, drastically higher than the $41 million loss it experienced in Q3 of 2013.
Word on the Street
Published on Oct 23, 2014By InvestorGuide Staff