Microsoft

The software company is clearly feeling the pinch of inflation.


(Photo: Reuters)

The software giant Microsoft it struggled at the end of the year in the face of high inflation and recession fears and earned significantly less. In the three months to the end of December, net profit fell 12 percent compared to the previous year to 16.4 billion dollars (15.1 billion euros), the computer company announced on Tuesday after the US stock market closed.

Global sales of laptops and desktops, which soared during the coronavirus pandemic, fell nearly 29 percent at the end of 2022, according to consulting firm Gartner.

Microsoft’s revenue rose 2 percent to $52.7 billion, the weakest growth in more than six years. Overall, however, the quarterly figures were in line with expectations. The stock initially gained about 4 percent in after-hours trading. Revenue in the all-important cloud business was slightly higher than Wall Street analysts had expected.

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By yjawq

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