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The smallest sales growth for Microsoft since 2016

The largest international technology company in the United States, Microsoft, saw a 2% growth in revenue from October through December of last year, the smallest rise in revenue since 2016.

The period, which the business refers to as the second quarter of the 2023 fiscal year, had total sales of $52.7 billion.

However, its cloud sales increased 22% year over year to $27.1 billion, LinkedIn revenue was up 10%, but personal computing revenue fell 19% to $14.2 billion.

Comparing the current period to the same period last year, net income fell by 12 percent, to $16.4 billion.

The most cutting-edge AI models in the world are being transformed into a new computing platform by the Microsoft Cloud, according to chairman and CEO Satya Nadella’s financial results statement.

Microsoft’s senior vice president and chief financial officer, Amy Hood, stated that the corporation keeps making investments to spur growth.

The financial findings come less than a week after Microsoft said that it will fire 10,000 employees by the end of September, or less than 5% of its whole staff, as the tech sector suffers from financial issues.

The results managed to outperform market forecasts despite a reduction in net income and a gradual rise in revenue. As a result, Microsoft’s stock price increased by more than 9% in after-hours trading.

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This article is for informational purposes only and does not constitute endorsement of any specific technologies or methodologies and financial advice or endorsement of any specific products or services.

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