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Microsoft (MFST) has quarterly revenue almost in line with market forecasts

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Microsoft is facing a sharp drop in business in its computing division, which includes products such as operating systems (Image: REUTERS/Lucy Nicholson)

THE Microsoft (MSFT) reported on Tuesday quarterly revenues almost in line with analysts’ forecasts, pressured by a slump in the personal computer market that affected the Windows business.

Revenue rose 2% to $52.7 billion in the December quarter from analysts’ average estimate of $52.94 billion, according to data from the Refinitiv.

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The company’s shares rose 4% in extended trading. The shares lost nearly a third of their market value in a dismal 2022 for stocks of technology.

Microsoft is facing a sharp drop in business in its computing division, which includes products such as operating systems and Windows devices.

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PC sales fell nearly 29% between October and December, according to research firm Gartner, the biggest quarterly drop since the consultancy began tracking the market in the mid-1990s.

Source: Moneytimes

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