Why it matters: Microsoft on Tuesday reported a fourth-quarter profit of $51. 9 billion, up 12% year-over-year. Revenue fell short of a Street estimate of $52. 47 billion. EPS $2. 23 in the quarter, less than $2. 30.
In addition to production shutdowns in China, the company also scaled back its Russia operations in the quarter, resulting in a $126 million bad debt charge, according to an earlier report.
More earnings figures are expected from the tech giants this week. Amazon. com, Inc AMZN, which competes with Microsoft’s cloud division, is expected to take effect On Thursday. On the same day, Apple Inc AAPL will also release its quarterly figures.
Price action: On Tuesday, Microsoft shares rose 4% to $261. 90 in normal trading after a final 2. 7% drop to $251. 90 in normal trading, according to data from Benzinga Pro.
Read next: Amazon increases Prime memberships in Europe just ahead of second-quarter revenue
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