Shares of Microsoft (NASDAQ: MSFT) fell 7.7% on Wednesday after the tech giant told investors to brace for a steep downturn in the personal computer (PC) market and a decelerating pace of expansion in the cloud. Microsoft's revenue grew by 11% year over year to $50.1 billion in its fiscal 2023 first quarter, which ended on Sept. 30. Excluding foreign exchange fluctuations, the software maker's sales rose by 16%. Read More...
The Wall Street Journal
Microsoft Casts a Very Big Cloud
Among corporate tech managers, it might still be true that no one gets fired for buying Microsoft But buying less of anything seems the more likely path these days. Microsoft managed decent results for the September quarter despite a well-known global meltdown in sales of personal computers, most of which still use the company’s storied Windows operating system. Azure, Microsoft’s public cloud service that is second only to Amazon in size, saw revenue grow 35% year over year.
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