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Microsoft exceeds expectations with a profit of 18.8 billion dollars | Microsoft

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Microsoft reported earnings of $18.8 billion for the last three months of 2021, ahead of analysts’ expectations, but its share price initially fell more than 5% after another turbulent day on Wall Street .

The Seattle-based software giant reported revenue of $51.7 billion, up 20% from the same period last year and ahead of expectations. But the news was not enough to impress investors who appear to have depressed the tech sector after a historic boom in stock prices during the pandemic.

Microsoft is the first of America’s biggest tech companies to report quarterly results with Apple, Amazon, Meta and Alphabet to come. Reports are being watched closely after Netflix’s share price crashed following the release of disappointing subscriber numbers.

Since the fall of Netflix, the stock markets have turned enormously. Investors are worried about the Federal Reserve’s plans to raise interest rates and escalating tensions between Russia and Ukraine.

Microsoft’s cloud computing business benefited from going online during the pandemic as Covid-19 closed offices across the world. Satya Nadella, chairman and CEO of Microsoft, said he expects the trend to continue.

“Digital technology is the most malleable resource available to the world to overcome constraints and reinvent everyday work and life,” Nadella said. “As technology as a percentage of global GDP continues to rise, we innovate and invest in diverse and growing markets, with a common underlying technology stack and operating model that reinforces a strategy, culture and sense of common goal.”

Microsoft exceeds expectations with a profit of 18.8 billion dollars | Microsoft

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