News Snapshot:
Amy Hood (Microsoft) Microsoft announced its fourth quarter 2022 results yesterday, posting revenue of US$52 billion, up 12 per cent year-on-year. However, the company’s net income was relatively flat at $16.7 billion, at a much more modest increase of just two per cent. In a call with analysts, Microsoft chief financial officer, Amy Hood, said unfavourable foreign exchange rate movement within the quarter negatively impacted revenue and diluted earnings per share, while extended production shutdowns in China and a deteriorating PC market had contributed to a negative Windows OEM revenue impact of more than $300 million. The scaling down of...
