In June, Microsoft lowered its own expectations for the quarter in terms of earnings and sales.
(Photo: Reuters)
Bangalore Microsoft is suffering from the strong dollar and competition from Amazon and Google in the cloud business. The world’s largest software company announced sales of $51.9 billion for the fourth quarter on Tuesday after the US stock market closed, after almost $46.2 billion in the same period last year. According to Refinitiv data, analysts had expected 52.4 billion.
Net income rose to $16.7 billion from just under $16.5 billion. Microsoft shares initially fell 3 percent in after-hours trading. Before the latest business figures were published, it had lost roughly a quarter of its value over the course of the year.
At the beginning of June, Microsoft lowered its own expectations for the quarter in terms of profits and sales, already pointing to the strength of the dollar. The group generates about half of its sales outside of the United States.
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