Microsoft’s Net Profit Fell

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.

Microsoft's Net Profit

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.

Gül Demirci

Hi, I'm Gul. I am a writer for Expat Guide Turkey and I strive to create the best content for you. To contact me, you can send an e-mail to Happy reading!

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