Microsoft profits down 14% as Windows hit by weak PC sales
Microsoft on Tuesday reported a 14% drop in profit for the July-September quarter compared to the same time last year, reflecting a weak market for personal computers affecting its Windows business
By AP News
Published - Oct 25, 2022, 04:24 PM ET
Last Updated - Jun 24, 2023, 01:34 AM EDT
REDMOND, Wash. (AP) — Microsoft on Tuesday reported a 14% drop in profit for the July-September quarter compared to the same time last year, reflecting a weak market for personal computers affecting its Windows business.
The company reported quarterly net income of $17.6 billion, or $2.35 per share, which still slightly beat Wall Street expectations despite undershooting last year's results.
The Redmond, Washington-based software maker posted revenue of $50.1 billion in the quarter, up 11% from last year, also beating expectations.
Analysts expected Microsoft to earn $2.31 per share on revenue of $49.7 billion for the quarter.
