NEW YORK (Reuters) – Microsoft posted quarterly results that missed Wall Street expectations, announced it would cut up to 5,000 jobs and said it could no longer offer profit forecasts for the rest of the fiscal year.
Shares of Microsoft fell 8.5 percent in pre-market trading.
Microsoft posted a profit of £3.06 billion, or 0.35 pence per share, in its fiscal second quarter ended 31st December, versus a profit of £3.46 billion, or 0.37 pence, a year earlier. Analysts were looking for earnings per share of 0.36 pence, according to Reuters Estimates.
Revenue rose 2 percent to £12.20 billion, missing the average analyst forecast of £12.55 billion.
To cut costs, Microsoft said it will eliminate up to 5,000 jobs in research and development, marketing, sales, finance, legal, human resources and information technology over the next 18 months, including 1,400 jobs on Thursday.
Suspended prison sentence for Craig Wright for “flagrant breach” of court order, after his false…
Cash-strapped south American country agrees to sell or discontinue its national Bitcoin wallet after signing…
Google's change will allow advertisers to track customers' digital “fingerprints”, but UK data protection watchdog…
Welcome to Silicon In Focus Podcast: Tech in 2025! Join Steven Webb, UK Chief Technology…
European Commission publishes preliminary instructions to Apple on how to open up iOS to rivals,…
San Francisco jury finds Nima Momeni guilty of second-degree murder of Cash App founder Bob…