The Strategist

Microsoft reports drop in net profit

01/25/2023 - 07:02

Microsoft Corp., a global leader in information technology, reported that its net income for the first half of its fiscal year 2022–2023, which finished on December 31, 2022, fell by 13.5 percent from the prior year to $33.981 billion.

Mike Mozart
Mike Mozart
For the period, diluted earnings per share were $4.54 as opposed to $5.19 from the prior year. Half-year total revenue increased 6% from the prior period to $102.869 billion.

Microsoft's net income fell to $16.425 billion for the second quarter of the fiscal year, a 12.5% decrease from the same period the prior fiscal year. The diluted earnings per share for the second quarter of the prior fiscal year decreased from $2.48 to $2.2 per share. The adjusted profit was $2.32. Analysts had anticipated $2.3. In comparison to the projection of $53.12 billion, revenue increased by 2% annually to $52.747 billion.

In the second quarter, revenue at the Intelligent Cloud division grew 17.8% year over year to $21.508 billion. The Productivity and Business Processes section increased by 6.7% to $17.002 billion. The third quarter revenue estimate from Intelligent Cloud is $21.7 billion to $22 billion, which is less than the $22.14 billion anticipated.