Microsoft profits down 14% as Windows hit by weak PC sales

TL;DR

The Redmond, Washington-based software maker posted revenue of $50.1 billion in the quarter, up 11% from last year, also beating expectations.Microsoft's personal computing business, centered on its Windows software, was widely expected to take a hit given economic uncertainties such as inflation.A disappointing back-to-school sales season for new computers also contributed to a fourth consecutive quarter of year-over-year decline, Gartner said.Revenue from that segment grew 20% from the same time last year to $20.3 billion, making it the largest source of Microsoft's sales and growth during the period.The second-largest business segment, made up of productivity-related software such as the Office suite of work products, grew 9% to $16.5 billion in revenue."

Like summarized versions? Support us on Patreon!