is set to deliver.
The software giant said after the closing bell Wednesday that it would post fiscal fourth-quarter revenue of $6.5 billion to $6.6 billion, up from previous guidance of $6.3 billion to $6.5 billion. The company also said it planned to post a $2.6 billion net investment loss due to writing down weakened investments.
Wall Street was bidding up the company in after-hours trading, sending the stock up 5.9% to $70.41 on
Microsoft said the big investment loss is due to a $3.9 billion pretax charge to write down private and publicly traded investments, many in the cable and telecom industries. "Generally accepted accounting principles require that we recognize this charge at this time, but we remain steadfast in our commitment to the strategic business relationships that our long-term investments continue to support," said John Connors, chief financial officer.
Including the noncash charge, the company expects to post earnings of a penny a share. Teh company is set to post its earnings July 19.