Microsoft Results Beat Estimates

Amazon set to fall on analyst downgrade; Marriott climbs; plus more of today's stocks in the news

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April 22, 2004 at 4:00 AM UTC

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After the close of trading Thursday, Microsoft (MSFT ) posted 12 cents earnings per share, vs. 20 cents. Revenue rose a better-than-expected 17%. The world's largest software maker says excluding items, which include stock-based compensation expenses, legal costs related to a settlement with Sun Microsystems, and a fine by the European Commission, the company posted 34 cents earnings per share, beating analysts' average estimates for 29 cents earnings per share.

After the close of trading, online book and music retailer Amazon (AMZN ) posted 26 cents earnings per share, vs. a loss of 3 cents. Revenue rose 41% to $1.53 billion, surpassing the Street's estimates. Piper Jaffray downgraded the shares to underperform from market perform, citing Amazon's declining gross margins and revenue growth and company guidance for further declines.