Microsoft Cuts Earnings, Revenue Guidance, Citing Stronger USD

Microsoft stock slips to become the latest company to warn of the US dollar’s impact on financials. The Tech giant also dropped its gross-margin guidance.

Microsoft cut sales and earnings guidance for the current quarter, citing the impact of foreign exchange rates as the stronger dollar takes a toll. The software giant said in a securities filing Thursday that it now expects fiscal fourth-quarter sales of between $51.94 billion and $52.74 billion, down from its prior guidance of $52.4 billion to $53.2 billion. The quarter ends June 30.