Microsoft profit misses estimates, shares fall | Reuters

Microsoft Corp's ( MSFT.O ) quarterly adjusted profit missed analysts' estimates as a continued slump in personal computer sales hurt the company's core Windows business, sending its shares down 4 percent in extended trading.

Reuters April 22, 2016 03:00:12 IST
Microsoft profit misses estimates, shares fall
| Reuters

Microsoft profit misses estimates shares fall
 Reuters

Microsoft Corp's (MSFT.O) quarterly adjusted profit missed analysts' estimates as a continued slump in personal computer sales hurt the company's core Windows business, sending its shares down 4 percent in extended trading.

The company's net income fell to $3.76 billion, or 47 cents per share, in the third quarter ended March 31, from $4.99 billion, or 61 cents per share, a year earlier.

Revenue fell to $20.53 billion from $21.73 billion.

Adjusted revenue rose to $22.08 billion from $21.73 billion.

Excluding one-time items, Microsoft earned 62 cents per share. Analysts on average had expected a profit of 64 cents per share on revenue of $22.09 billion, according to Thomson Reuters I/B/E/S.

Revenue in Microsoft's "intelligent cloud" business, which includes the Azure cloud infrastructure and services business as well as products such as server software, rose 3.3 percent to $6.1 billion in the quarter.

Chief Executive Satya Nadella has focussed on developing the company's cloud business with his "mobile first, cloud first" strategy, since taking over in early 2014.

Windows OEM revenue declined 2 percent in constant currency.

Worldwide PC shipments fell 11.5 percent in the first quarter, according to research firm IDC.

(Reporting by Anya George Tharakan in Bengaluru; Editing by Savio D'Souza)

This story has not been edited by Firstpost staff and is generated by auto-feed.

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