Microsoft’s revenue declined 12% to $16.4 billion, while adjusted profits fell 6.5% yearly to $2.32 per share, barely ahead of the Street expectation of $2.30 per share.
Microsoft said that productivity and enterprise division sales increased 7% to $17 billion, while Intelligent Cloud revenues increased 18% to $21.5 billion, a figure the company had predicted in late October. Personal computing sales dropped 19% to $14.2 billion.
“The next major wave of computing is being born, as the Microsoft Cloud turns the world’s most advanced AI models into a new computing platform,” said CEO Satya Nadella. “We are committed to helping our customers use our platforms and tools to do more with less today and innovate for the future in the new era of AI.”
