The technology company’s second-quarter 2022 results detail earnings of $34 billion.
Despite cost cuts and a massive layoff of 10,000 employees worldwide, Microsoft continues to grow its revenues, albeit with a decline in profits.
According to its financial results for the second quarter of 2022, the company led by Satya Nadella recorded profits of $33,981bn, a drop of 13.5% over the amount for the same period in 2021.
Its cumulative turnover, however, increased 6% year-on-year to $102.869 billion, driven by its cloud business, Azure, which grew 31% in turnover, albeit at a slower pace than than in the previous quarter (36%).
Thus, the intelligent cloud earned Microsoft 41.833 billion in revenue, while commercial and productivity products represented 33.467 billion. The personal computer segment fell to 27.569 billion, with PC and Windows OS sales down 39%. Office365 also saw a 12% drop and Xbox revenues dropped 13%.
The numbers reassured investors, especially the Azure-related numbers, and Microsoft shares were up 5% at the end of trading.
