(CNN)Microsoft on Tuesday posted weaker-than-expected revenue and a double-digit percentage drop in profit for the final three months of last year amid broader economic uncertainty and reduced demand for personal computers and software. The tech giant reported revenue of $52.7 billion for the quarter, a modest 2% increase from the year prior but slightly less than analysts had expected. It reported net income of $16.4 billion, a 12% decline from the year prior. Microsoft confirms it’s investing billions in the creator of ChatGPT The earnings results come at a turbulent moment for Microsoft, and the tech industry as a whole . Microsoft said last week that it plans to lay off 10,000 employees as part of broader cost-cutting measures. In his explanation of the cuts, CEO Satya Nadella pointed to changing demand for digital services years into the pandemic as well as looming recession fears. Demand for personal computers, and the Microsoft operating systems that power them, has pulled back after experiencing a boom early in the pandemic. Consulting firm Gartner said earlier this month that worldwide PC shipments fell more than 28% in the fourth quarter of 2022 compared to the same period the prior year. This marked […]
K&X Design and Investment Technology, LLC
Invest The Invisible Impact
K&X Design and Investment Technology, LLC
Invest The Invisible Impact
