Microsoft revenue slows, profits slip
Microsoft’s net income stood at just under 5.7 billion dollars for the third quarter, a 7 per cent decrease from the same period last year, according to the company’s earnings report released Thursday.
The drop in net income comes despite the company naming Satya Nadella as new chief executive officer in February.
Nadella, who also had to accept that revenue in the quarter ended March 31 was stagnant at 20.4 billion dollars, put the best face on the data.
“We are making good progress in our consumer services like Bing and Office 365 Home, and our commercial customers continue to embrace our cloud solutions,” Nadella said.
“Both position us well for long-term growth.” The company’s figures exceeded analysts’ expectations, and Microsoft stocks rose by 2 per cent after the market closed.
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