Microsoft, amid layoffs, says quarterly profit declined 12%
KIFI REDMOND, Washington (AP) — Microsoft has reported a 12% drop in profit for the October-December quarter, reflecting the economic uncertainty i...
KIFI REDMOND, Washington (AP) — Microsoft has reported a 12% drop in profit for the October-December quarter, reflecting the economic uncertainty it says led to its decision to cut 10,000 workers. The company reported quarterly profit of $16.43 billion, or $2.20 per share.Excluding one-time items, the company based in Redmond, Washington, said it earned $2.32 a share, which topped Wall Street expectation for adjusted earnings of $2.29 a share. The software maker posted revenue of $52.7 billion in the October-December period, its second fiscal quarter, up 2% from last year and slightly missing forecasts.