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Microsoft shares jump 7% after higher capital spending outlook
The company said it expects to report positive free cash flow in the new fiscal year, aided by changes in how it accounts for data center and office building costs.
Microsoft shares rose about 7% after the company boosted its capital spending plans, pointing to ongoing demand for its technology and services, according to CNBC.
CNBC reports that Microsoft expects positive free cash flow for the new fiscal year, alongside changes to its accounting approach for costs tied to data centers and office buildings.
The update drove the stock’s sharp move higher as investors focused on the spending direction and the cash flow outlook described by the outlet.
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