Gadgets Africa
  • News
    Microsoft introduces ads to Bing AI chatbot

    Microsoft introduces ads to Bing AI chatbot

    Executives at Meta Platforms Inc are discussing a company-wide ban on political advertising in Europe.

    Meta considers ban on political ads

    Twitter unveils prices for API access

    Twitter unveils prices for API access

    Microsoft raises Bing AI chat limit to 200 daily

    Microsoft raises Bing AI chat limit to 200 daily

    Instagram introduces bookmarking feature

    Instagram introduces bookmarking feature

    Hackers target UAE users with Spanish spyware - Google

    Hackers target UAE users with Spanish spyware – Google

    EFCC detains tech firm Kloud Commerce's founder Olumide Olusanya

    EFCC detains tech firm Kloud Commerce’s founder Olumide Olusanya

    Google to launch extreme heat alerts feature

    Google to launch extreme heat alerts feature

    Musk, experts call for pause on AI development

    Musk, experts call for pause on AI development

  • Apps
  • Cryptocurrency
  • featured
  • Telecommunications
  • Gadgets
  • FinTech
  • Tech leaders
Gadgets Africa
No Result
View All Result

Microsoft earnings fall short as computer sales drop

by Agency Report
July 27, 2022
in News
Reading Time: 2 mins read
Microsoft, OpenAI extend multibillion-dollar partnership
Share on FacebookShare on TwitterShare on Telegram

Microsoft on Tuesday said that its earnings in the recently ended quarter fell shy of expectations as personal computer sales suffered from production holdups in China and sagging demand.

The US technology giant reported a profit of $16.7 billion on revenue of $51.9 billion, topping the same quarter a year earlier but missing market forecasts.

“While the headline slight miss will cause agita on (Wall) Street with a knee jerk reaction, this is largely foreign exchange and China shutdown driven (PC driven),” Wedbush analyst Dan Ives said in a note to investors.

“The core DNA of the Microsoft growth story is cloud and core Azure growth which was healthy this quarter and appears to have momentum into 2023 despite economic headwinds.”

Microsoft shares were up some four per cent in after-market trades that followed the release of the earnings figures.

“In a dynamic environment we saw strong demand, took share, and increased customer commitment to our cloud platform,” said Microsoft chief financial officer Amy Hood.

Microsoft said that the strong US dollar made its offerings more costly in foreign markets, hurting sales.

Shutdowns at computer production facilities in China in May, and a deteriorating market for personal computers, cost Microsoft some $300 million in revenue it would have made from Windows operating systems bought to power the machines, the earnings report indicated.

The personal computer market had been in steady decline prior to the pandemic, as people turned to smartphones or tablets.

A massive shift to shopping, working, socializing and playing from home reignited demand for desktop computing power, but it remains to be seen whether that appetite will remain post-pandemic.

Ad revenue at Microsoft’s online news, search, and career social network LinkedIn suffered due to companies cutting marketing budgets due to broad economic woes, the company said.

The tech veteran based in the US state of Washington also logged $126 million in operating expenses related to scaling back its operations in Russia because of that country’s invasion of Ukraine.

Microsoft saw consumers spend less on Xbox videogame content in the quarter compared to the same period a year earlier, in a possible sign that many are out playing in the real world more as pandemic restrictions ease.

However, Microsoft’s cloud, business and productivity offerings continued to thrive.

“We see real opportunity to help every customer in every industry use digital technology to overcome today’s challenges and emerge stronger,” said Microsoft chief executive Satya Nadella.

Tags: Microsoft
ADVERTISEMENT

Related Posts

Microsoft introduces ads to Bing AI chatbot
News

Microsoft introduces ads to Bing AI chatbot

by Alex Omenye
March 30, 2023
Executives at Meta Platforms Inc are discussing a company-wide ban on political advertising in Europe.
News

Meta considers ban on political ads

by Alex Omenye
March 30, 2023
Twitter unveils prices for API access
featured

Twitter unveils prices for API access

by Alex Omenye
March 30, 2023
Microsoft raises Bing AI chat limit to 200 daily
News

Microsoft raises Bing AI chat limit to 200 daily

by Alex Omenye
March 29, 2023
Next Post
Toyota car

Toyota announces $1.8bn investment in electric vehicles

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Recommended.

NPC seeks framework review for 2023 digital census

NPC seeks framework review for 2023 digital census

May 18, 2022
Telegram launches username trading feature

Telegram launches username trading feature

November 11, 2022

Trending.

NCC alerts Nigerians on antivirus-crippling threat

Call, SMS cost hike not possible now —NCC

May 8, 2022
Telecom subscribers' growth in Lagos, four others hit 56m

Telecom subscribers’ growth in Lagos, four others hit 56m

July 6, 2022

Scientists find microplastics in blood for first time

March 25, 2022
Meta to introduce search, reminder ads on Instagram

Meta to introduce search, reminder ads on Instagram

March 21, 2023
Meta plans fresh job cuts, delays team budgets - Report

Meta plans fresh job cuts, delays team budgets – Report

February 11, 2023
Gadgets Africa

© 2023 Gadgets Africa.

Navigate Site

  • News
  • Apps
  • Cryptocurrency
  • featured
  • Telecommunications
  • Gadgets
  • FinTech
  • Tech leaders

Share

No Result
View All Result
  • News
  • Apps
  • Cryptocurrency
  • featured
  • Telecommunications
  • Gadgets
  • FinTech
  • Tech leaders

© 2023 Gadgets Africa.

Go to mobile version