Microsoft misses estimates, cites exchange rates and ‘deteriorating’ PC market – CNBC

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Microsoft chief executive officer Satya Nadella talks at a Microsoft news conference in New York.

Don Emmert | AFP | Getty Images

Microsoft shares initially fell in extended trading but then rebounded on Tuesday after the software maker reported fiscal fourth-quarter results that failed to reach Wall Street consensus.

Here’s how the company did:

• Earnings: $2.23 per share, adjusted, vs. $2.29 per share as expected by analysts, according to Refinitiv.
• Revenue: $51.87 billion, vs. $52.44 billion as expected by analysts, according to Refinitiv.

Microsoft turned in the slowest revenue growth since 2020, at 12% year over year in the quarter, which ended on June 30, according to a statement. The company’s earnings per share fell short of consensus for the first time since 2016, with net income rising 2% to $16.74 billion.

The biggest challenge in the quarter stemmed from worsening foreign-exchange rates. Microsoft said that reduced revenue by $595 million and earnings…

Read Full Story: https://www.cnbc.com/2022/07/26/microsoft-msft-earnings-q4-2022.html

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