Exceeds sales projections, but the growth of 11% is the slowest since 2018.
A stronger US dollar and a drop in Windows software sales to PC makers both contributed to Microsoft Corp. reporting its worst quarterly revenue growth in five years.
Azure Cloud Services are extremely popular.
Sales for the third quarter increased by 11% to $50.1 billion, while net income came in at $17.6 billion, or $2.35 per share, and Azure cloud computing revenue fell by 35%, in part because of currency rates.
Microsoft’s full-year earnings prediction, which will be updated later on Tuesday, is under threat, according to some experts.
Guggenheim analysts questioned the firm’s ability to sustain double-digit full-year revenue guidance in a research note if the dollar keeps strengthening and the economy gets worse.