Microsoft reduces net income in fiscal 2nd quarter; earnings per share exceed expectations

- Article Top Advertisement -

Microsoft reported net income of US$ 16.4 billion in the second fiscal quarter, equivalent to US$ 2.32 per share in adjusted terms, according to corporate balance sheet released on Tuesday, 24.

The result was below the same period of the previous year, when the company had a gain of US$ 18.7 billion. However, earnings per share exceeded the forecast of analysts consulted by FactSet, who projected US$ 2.29 per paper.

- Article Inline Advertisement 1-

In its balance sheet, the company also points out that Microsoft Cloud revenue was US$ 27.1 billion, representing an increase of 22% in the annual comparison. “We are focused on operational excellence and continuing to invest to drive growth while our commercial offerings continue to deliver value for our customers,” said Amy Hood, Microsoft executive vice president and chief financial officer, in a note to investors.

In total, Microsoft’s revenue came in at $52.7 billion for the quarter ended Dec. 31, below FactSet expectations of $52.99 billion.

- Advertisement -

The result is released about a week after the company announced the cut of 10,000 employees, joining other giants in the technology sector that also decided to make massive layoffs.

The company says it recorded costs related to claims expenses and depreciation charges of $800 million in the fiscal second quarter.

After the disclosure of the company’s balance sheet, Microsoft’s action advanced 4.29%, around 6:40 pm (Brasília time).

Source: CNN Brasil

- Article Bottom Advertisement -


Please enter your comment!
Please enter your name here

Hot Topics

Related Articles