Microsoft’s net profit falls
Accepting the October-December period as the second quarter of its financial calendar, Microsoft announced its balance sheet.
Consequently, the company’s revenue increased 2 percent in the October-December period of last year compared to the same period of the previous year, reaching $52.7 billion. Microsoft had revenue of $51.7 billion in the July-September 2021 period.
The company posted its lowest revenue growth since the quarter ending June 2016 in the stated period.
NET INCOME DECREASED 12 PERCENT
Microsoft’s net profit fell 12 percent in the same period to $16.4 billion. The firm’s net income was $18.8 billion in the same period last year. The company’s earnings per share also decreased from $2.48 to $2.20 during this period.
US tech giant Microsoft announced last week that it will lay off 10,000 of its employees, making it the biggest layoff decision for the company in more than 8 years.
Microsoft CEO Satya Nadella, in the article he shared with company employees on the subject, stated that customers are optimizing their digital spending. he had evaluated. (AA)
Source: Sozcu
Andrew Dwight is an author and economy journalist who writes for 24 News Globe. He has a deep understanding of financial markets and a passion for analyzing economic trends and news. With a talent for breaking down complex economic concepts into easily understandable terms, Andrew has become a respected voice in the field of economics journalism.
