Yahoo Finance Decline of the PC puts pressure on Microsoft’s new chief exec
MICROSOFT, the world’s largest software company, smashed analysts’ profit estimates yesterday despite the pressure of falling computer sales.
Shares in the tech giant rose almost three per cent in after hours trading to $40.96 (£24.37), keeping the stock at levels not seen since the internet stock boom.
Microsoft reported quarterly profit of $5.66bn, compared with $6.05bn in the year-ago quarter.
“This quarter’s results demonstrate the strength of our business, as well as the opportunities we see in a mobile-first, cloud-first world,” said chief executive Satya Nadella. “We are focused on executing rapidly and delivering bold, innovative products that people love to use.”
Revenues fell 0.4 per cent to $20.4bn, hitting estimates. The decline was likely muted by the end of Microsoft’s support for its Windows XP system in April, which appears to have prompted sales.
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