It seems that Microsoft may be having another slow year in terms of earnings, today posting a set of financial results that were not up to what a lot of people expected, although their revenue is higher than what Wall Street forecasted, the company reported $4.6 billion in net income (down from Q4 2013’s $4.95B), and $23.3 billion in revenue (an increase from last year’s $19.9B).
Analysts previously reported that the company should get $23 billion in revenue for this quarter.
You should take note that the revenue figure will also include the $2 billion for the Nokia Devices and Services business, this is due to the buyout finishing a few weeks after the start of last quarter.
Microsoft do however claim that some of its products are down to its revenue increase, stating that the commercial cloud annualised revenue run rate is now at $4.4 billion.
“We are galvanized around our core as a productivity and platform company for the mobile-first and cloud-first world, and we are driving growth with disciplined decisions, bold innovation, and focused execution,” said Satya Nadella, chief executive officer at Microsoft, in a press release. “I’m proud that our aggressive move to the cloud is paying off”.
Microsoft’s shares closed at $44.83.
For more details make sure to listen to Microsoft’s live-streamed conference call at 2:30PM PST.