Microsoft Corp narrowly missed Wall Street estimates for second-quarter revenue on Tuesday, squeezed by a slump in the personal computer market that hammered its Windows software business. Revenue rose 2 per cent to $52.7 billion in the three months ended Dec. 31, compared with the average analyst estima
Microsoft Corp narrowly missed Wall Street estimates for second-quarter revenue on Tuesday, squeezed by a slump in the personal computer market that hammered its Windows software business.
Revenue rose 2 per cent to $52.7 billion in the three months ended Dec. 31, compared with the average analyst estimate of $52.94 billion, according to Refinitiv IBES. Shares of the Redmond, Washington-based company rose 4 per cent in extended trading. They lost nearly a third of their market value in a dismal 2022 for tech stocks.
Microsoft is wrestling with a steep drop in the computing division, which includes products like Windows operating systems and devices. PC shipments tumbled nearly 29 per cent between October and December, according to Gartner, the largest quarterly shipment decline since the consulting firm began tracking the market in the mid-1990s.
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