- The strong US dollar is expected to weigh on software profits
- Microsoft and Salesforce have warned of dollar-related drags
Software makers that have been battered amid this year’s stock slump were dealt another blow this week when Microsoft Corp. warned of even more headwinds coming down the pike.
The world’s largest software maker cut its profit forecast for the current quarter on Thursday and blamed the surging US dollar for an upcoming drag on its earnings to the tune of $460 million. The company’s rare mid-season revision took markets by surprise and briefly sent futures on the S&P 500 Index tumbling.
(Bloomberg 3 juni 2022 22:15 CEST)