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Wednesday, October 5, 2022

What caused the Microsoft Corporation (NASDAQ: MSFT) stock to gain after-hours?

Microsoft Corporation (NASDAQ: MSFT) stock is gaining in the after-market after starting a joint venture with Mastercard. MSFT stock is trading at $280.72, gaining more than 2.4% from the previous close. MSFT stock previously closed at $274.03 with a trading volume of 28.85 million shares.

Global Software Products Industry

Microsoft is an American tech giant that provides software and hardware products. The company’s products range from software products like Microsoft Office Suite and Microsoft Windows to gaming consoles like Xbox. The company has witnessed rapid growth over the years and is a more than two trillion-dollar Company.

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Experts believe that if we look at the entire software products market, it was worth $1.14 trillion in 2021. As of 2022, it is expected to be worth $1.3 trillion with a compound annual growth rate of 14.6 percent. According to industry analysts, the worldwide market for software products is expected to reach $2.15 trillion by 2026, with a compound annual growth rate of 13.3%.

MSFT and Mastercard Joint Venture

In a new partnership with Microsoft, Mastercard announced the introduction of an upgraded identification solution to facilitate online commerce and combat cyber scams.

Providing a seamless shopping experience is crucial as merchants try to convert window shopping and price comparison trip into purchases. While people love the ease of purchasing online, scammers are always seeking new ways to profit from the same channels. First-party fraud is a developing sort of digital fraud. An estimated $50 billion in first-party fraud is taking place worldwide every year.

MSFT: Upcoming Events

Microsoft announced on April 12, 2022, that they would release their results for the third quarter of 2022 on Tuesday, April 26, 2022. The company will announce results when the market closes on April 26, 2022.

Its management will host a conference call to discuss the corporate updates with investors. The company will release financial results before the call. The time of the conference call is 2:30 p.m. PST.

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