(Reuters) – Microsoft Corp (NASDAQ:) on Thursday lowered its forecast for revenue and income within the fourth quarter, citing a success from a stronger greenback.

The corporate expects income for the quarter to be between $51.94 billion and $52.74 billion, down from its prior vary of $52.40 billion to $53.20 billion.

It minimize the revenue view to between $2.24 and $2.32 per share, from a previous expectation of $2.28 to $2.35 per share.

Analysts are forecasting a internet revenue of $17.51 billion, or $2.33 per share, on income of $52.87 billion, in response to Refinitiv information.

Microsoft had in April forecast double-digit income development for the subsequent fiscal 12 months, pushed by demand for cloud computing companies.

However a hovering U.S. greenback has pressured the income of U.S. multinational firms that convert international forex into {dollars}, including to company worries over hovering inflation and pushing some to extra actively search methods to hedge their earnings.

Shares of Microsoft had been down 2% in premarket buying and selling, weighing on the tech-heavy .