Microsoft reported $51.9 billion in revenue and $16.7 billion in profit, up respectively by 12 and 2 percent from the same period last year, but below expectations.
The company noted in its earnings release that “extended production shutdowns in China” cost it $300 million. It also stated that it spent $126 million “substantially scaling down” its operations in Russia as a result of the conflict in Ukraine.
Along with Microsoft’s search and news businesses, LinkedIn’s employment platform also experienced a decrease in advertising spending, which contributed to a revenue fall of more than $100 million.
In comparison to the same quarter last year, the company’s cloud revenue for the quarter increased by 28% to $25 billion.
In comparison to the same quarter last year, the company’s cloud revenue for the quarter increased by 28% to $25 billion.
The announcement caused a more than 1% decline in Microsoft’s share price.
The key figures from the announcement are listed below:
Revenue: $51.9 billion Vs. $52.4 billion expected
Earnings per share: $2.23 Vs. $2.29 expected
Personal Computing: $14.4 billion Vs. $14.7 billion expected
Intelligent Cloud: $20.9 billion Vs. $21.1 billion expected
Productivity and Business Processes: $14.4 billion Vs. $16.7 billion expected
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