Microsoft’s revenue and growth for Q4 2022 turned out to be worse than analysts had predicted.
Despite this, the software giant’s cloud computing unit continued to perform well.
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- Microsoft’s revenue for Q4 2022 was $52.7B, while its net income was $16.4B, a 12% drop YoY.
- The decline in revenue is linked to a 28% drop in Microsoft’s worldwide PC shipments for Q4 2022 and a slowdown in its Windows OEM operations, Xbox, and service lines.
- The company’s cloud computing division stood out in performance, bringing in 22% more revenue YoY.
- The tech giant’s shares were up 4% in after-hours trading on Jan. 24.
- Microsoft CEO Satya Nadella says the company will invest in “strategic areas for our future” and has just made a multi-billion dollar investment commitment with OpenAI.
