Microsoft’s Net Profit Fell
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Microsoft’s Net Profit Fell
The net profit of Microsoft, one of the US technology companies, decreased by 12 percent in the October-December period of last year compared to the same period of the previous year.
Accepting the October-December period as the second quarter in its financial calendar, Microsoft announced its balance sheet.
Accordingly, the company’s revenue in the October-December period of last year increased by 2 percent compared to the same period of the previous year and reached 52.7 billion dollars. Microsoft generated $51.7 billion in revenue in the July-September 2021 period.
The company recorded its lowest revenue growth since the quarter ended June 2016 in the given period.
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Microsoft’s net profit fell 12 percent in the same period to $16.4 billion. The firm’s net profit was $18.8 billion in the same period last year.
The company’s earnings per share also fell from $2.48 to $2.20 during this period.
US technology giant Microsoft announced last week that it will lay off 10,000 of its employees, making the company’s biggest dismissal decision in more than 8 years.
Microsoft Chief Executive Officer (CEO) Satya Nadella stated in the article he shared with company employees about the issue that customers are optimizing their digital spending. had evaluated.