Microsoft's profit declined before executives decided to lay off thousands of workers, but shares gained Tuesday as cloud growth beat expectations.
Microsoft Corp.’s profit declined more than 12% in the holiday season, before executives decided to lay off thousands of workers, but shares gained after its quarterly report Tuesday as cloud growth beat expectations.
Revenue increased to $52.75 billion from $51.7 billion in the holiday quarter of 2022. Analysts on average expected earnings of $2.29 a share on sales of $52.99 billion, according to FactSet. Microsoft announced thousands of layoffs last week, part of a wave of job cuts from Big Tech companies that increased their workforces at a rapid pace in the early years of the COVID-19 pandemic. Wall Street analysts believed the move signaled concerns about revenue growth.
Norge Siste Nytt, Norge Overskrifter
Similar News:Du kan også lese nyheter som ligner på denne som vi har samlet inn fra andre nyhetskilder.
Analysis | Microsoft’s big bet on AI could bring ChatGPT to the massesBuzzy AI tools like ChatGPT could be coming soon to a workplace near you, as Microsoft makes a big bet on artificial intelligence.
Les mer »
Earnings Watch: Microsoft, Tesla and Intel are about to face the doubtersTesla, Intel and Microsoft face bigger questions about the path forward, after their shares took a beating last year.
Les mer »
Tesla, Microsoft, Boeing earnings, along with GDP top week aheadApple's new macbook, as well as earnings from Visa, Mastercard, and American Express and most major airlines including JetBlue and Southwest headline a busy week.
Les mer »
A needed rain chance arrives in South Central Texas by Tuesday morningA welcomed rain chance arrives in the next 48 hours! Here's what we'll be monitoring as rain chances increase locally overnight Monday & Tuesday:
Les mer »
Storms expected Tuesday during an otherwise dry week of seasonal temperaturesStorms are expected on Tuesday with cool and dry weather for the rest of the week.
Les mer »
Microsoft invests billions in ChatGPT-maker OpenAIMicrosoft says it is making a 'multiyear, multibillion dollar investment' in the artificial intelligence startup OpenAI, maker of ChatGPT and other tools that can write readable text and generate new images.
Les mer »