Microsoft’s fiscal fourth-quarter profit came in at $16.7 billion, or $2.23 per share, on Tuesday, falling short of analyst estimates of $2.29 per share. This is a rare setback for the computer giant, which has recently been beating Wall Street predictions with regularity.
(AP) REDMOND, Washington – Microsoft’s fiscal fourth-quarter profit came in at $16.7 billion, or $2.23 per share, on Tuesday, falling short of analyst estimates of $2.29 per share. This is a rare setback for the computer giant, which has recently been beating Wall Street predictions with regularity.
Compared to the same period last year, it reported sales of $51.9 billion from April–June. According to FactSet, analysts had anticipated revenue of $52.94 billion.
From April through June, it reported sales of $51.9 billion, up from the same time In the previous year. FactSet reports that analysts projected $52.94 billion in revenue.
Due to what the firm described as “unfavorable” fluctuations in the foreign currency rate as the U.S. dollar climbed, the company previously reduced its profit and sales expectations in early June.
Microsoft’s computing division, which depends on licensing money from PC manufacturers that install its Windows operating system on their products, was under pressure due to a challenging computer sales season that was attributed to supply chain problems and geopolitical instability.
According to Microsoft’s Tuesday report, sales of such licenses decreased 2% from the same period in 2017. The company’s larger personal computing business division, which rose just 2% to $14.4 billion for the quarter, was negatively impacted by this as well as a 6% decline in sales of Xbox gaming-related content.
Global PC shipments fell 12.6% in the second calendar quarter of 2022 compared to the same period in 2017, the biggest drop in nine years, according to market research firm Gartner. PC shipments are estimated to have decreased 15.3% between April and June according to another analysis by International Data Corp., marking the second straight quarter of lower shipments following two years of growth.
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