san francisco At Microsoft, the ongoing trend towards working from home is cushioning the losses caused by the worldwide decline in PC sales. Quarterly sales increased by 11 percent year-on-year to $50.12 billion, the software company announced on Tuesday. Net income, on the other hand, fell 13 percent to $2.35 per share. Analysts had expected proceeds of $49.61 billion and a profit of $2.30 per share.
The revenue from the PC business, the center of which is the Windows operating system, fell slightly to $13.3 billion, it said. The cloud division, on the other hand, recorded an increase of 20 percent to $20.3 billion.
Microsoft shares initially lost 2.6 percent in after-hours trading.
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