Microsoft beats first-quarter earnings expectations

 

Microsoft beats first-quarter earnings expectations

Microsoft has beaten economists' expectations, reporting first-quarter revenue of $50.12 billion, as the ongoing shift to hybrid work powered demand for its cloud-based services and helped cushion a slump in the personal computers business.

The figure compares with $45.32 billion a year earlier and analysts' forecasts of $49.61 billion.

Net income fell to $17.56 billion, or $2.35 per share, during the quarter ending 30 September, from $20.51 billion, or $2.71 per share, a year earlier.

Still, a slump in personal computer sales and the dollar surge hurt Microsoft's revenue and showed that the software giant is not entirely immune to macroeconomic pressures.

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