12:00 - 26.10.2022

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October 26, Fineko/abc.az. Microsoft Corp. reduced net profit in the first quarter of fiscal year 2023 by 14%, and Microsoft revenue grew by 11%.

ABC.AZ reports that company's shares fell in price at additional trading on Tuesday amid slowdown in revenue growth of Azure cloud service.

Net profit in the fiscal quarter, ended on 30 September, was $17.56 bn against $20.5 bn for the same period of the previous fiscal year.

Earnings per share fell to $2.35 from $2.71 a year earlier.

Microsoft's quarterly revenue increased to $50.1 bn from $45.32 bn.