Microsoft's guidance lackluster, new business growth slowed in December
<<Microsoft offers lackluster guidance, says new business growth slowed in December
PUBLISHED TUE, JAN 24 2023•12:00 PM EST | UPDATED 18 MIN AGO
• Microsoft’s Azure cloud growth slowed to 31%, barely beating analysts’ projections.
• Management called for $50.5 billion to $51.5 billion in revenue for the next quarter, while analysts expected over $52 billion, with Azure growth slowing further.
• The software maker took a $1.2 billion charge in the quarter in connection with its decision to eliminate 10,000 employees, revise its hardware lineup and consolidate leases.
Microsoft issued a disappointing revenue forecast for the current quarter in its earnings call on Tuesday, causing a reverse in the stock price after the shares initially rallied on better-than-expected earnings for the December quarter.
The technology company saw a dropoff in business at the end of 2022 in core Windows and Office areas, CEO Satya Nadella told analysts on a conference call.
Here’s how the company did:
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Any oldtimers here remember, in days of yore, when Dell and Microsoft stocks looked like bulldogs drooling over Apple on a comparison chart?
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