Accepting the October-December period as the second quarter in its financial calendar, Microsoft announced its balance sheet.
Accordingly, the company’s revenue increased by 2 percent in the October-December period of last year compared to the same period of the previous year and reached 52.7 billion dollars. Microsoft had revenue of $51.7 billion in the July-September period of 2021.
The company recorded the lowest revenue growth since the quarter ended in June 2016.
Microsoft’s net profit, on the other hand, decreased by 12 percent in the same period to 16.4 billion dollars. The company’s net profit was $18.8 billion in the same period last year.
It announced that it would cut 10,000 employees.
The company’s earnings per share also decreased from $2.48 to $2.20 in this period.
US technology giant Microsoft announced last week that it would lay off 10,000 of its employees, making the company’s biggest dismissal decision in more than 8 years.
Microsoft Chief Executive (CEO), Satya Nadella, stated in the article he shared with company employees on the subject, stating that customers are optimizing their digital spending.