39950
Microsoft Misses Profit Forecasts
Economy, Sci & Tech

Microsoft Misses Profit Forecasts

Microsoft reported results that fell short of analysts' expectations, showing its high-profile cloud business cannot quite make up for a slowing personal-computer market.
Shares fell 5% in after-hours trade to $52.92. Two of Microsoft's three major businesses showed lower operating profits, led by what Microsoft calls its intelligent cloud division, which includes its Azure cloud-services business and traditional server software. Despite revenue at Azure more than doubling, revenue in the division grew just 3%.
Microsoft executives said shortfalls in the intelligent cloud business were due to pressure on products that were tangential to the main cloud push, such as server software, which mollified some investors.
Revenue at the Redmond, Wash.-based software giant fell to $20.53 billion from $21.73 billion.
The company's net income in the third quarter ended March 31 fell to $3.76 billion, or 47 cents per share, from $4.99 billion, or 61 cents per share, a year earlier.
Adjusted revenue of $22.08 billion was just shy of the $22.09 billion analysts had expected, according to Thomson Reuters.

 

Short URL : http://goo.gl/tU9Ul1
  1. http://goo.gl/UBtMV9
  • http://goo.gl/K2u7qD
  • http://goo.gl/TtDIqf
  • http://goo.gl/UWQIQ8
  • http://goo.gl/5fW4UQ

You can also read ...

US Sanctions on Iran Affect Trade With UAE
The latest US sanctions against Iran are forcing many Iranian...
Failure to Safeguard Iran Deal Will Show EU Still a Paper Tiger
Just a few weeks ago, it seemed that the Iran nuclear deal...
Iraq to Respect Dollar Ban But Not All US Sanctions on Iran
Iraqi Prime Minister Haider al-Abadi stepped back from his...
Indian Tea Exporters Seeking Special Exchange Rate From Iran
The Indian tea industry has sought a special exchange rate...
Gold Coin Gains
The benchmark Bahar Azadi gold coin gained on Tuesday, as both...
New Government Policies Reduce Forex Demand
The implementation of new foreign exchange policies by the...
Nvidia Rolls Out New Chip Technology for Filmmakers
Nvidia Corp on Monday released a new generation of chips aimed...
Google Tracks Your Movements, Like It or Not
Google wants to know where you go so badly that it records...

Trending

Googleplus