Microsoft Corp.’s latest profits fell short of Wall Street expectations on July 26 after the company revealed that “evolving macroeconomic conditions and other unforeseen items” had impacted its financial results.
In its earnings report for the three months ending June 30 (the fourth quarter of the company’s 2022 fiscal year), the company founded by Bill Gates reported net income rising 2 percent to $16.7 billion.
Analysts expected Microsoft to generate a profit of $17.3 billion, but instead the company posted its lowest earnings growth in two years.
Microsoft had fourth-quarter revenue of $51.9 billion, up 12 percent from the same period in 2021, but that still fell short of the $52.4 billion expected by analysts, CNBC reported….