Microsoft posts profits down 12% to $16 billion

A Microsoft Tuesday presented results for the October – December quarter, which revealed a 12% drop in profits, to US$16,43 billion, reflecting the economic uncertainty that led it to lay off 10 workers.
Excluding extraordinary results, earnings were $2,32 per share, still above Wall Street's expectations of $2,29.

Revenue was US$52,75 billion, a year-on-year increase of two percent, but below the average of US$52,99 billion that analysts polled by FactSet were expecting.

BUT: Microsoft will block updates to older versions of Windows 10

Last week, Microsoft attributed “macroeconomic conditions and changing customer priorities” to its decision to shed about five percent of its workforce.

Microsoft is one of several large technology companies that have recently announced massive layoffs, like Google, Amazon, Salesforce and Meta, the 'holding' of Facebook.

On Monday, to seek to integrate the latest advances in artificial technology in its products, Microsoft announced "investments of billions of dollars over several years" in the 'startup' of artificial intelligence OpenAI, maker of ChatGPT and other instruments that can write readable text and computation code and generate images.


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