News
Seattle
Microsoft earnings up: Microsoft’s earnings grew in the last quarter of 2021, thanks to the continued strength of its cloud-services business. Sales for the three months to the end of December hit $51.7bn, a 20% increase from the year before. Net income also rose 21% to $18.8bn. Overall cloud service revenue increased 32% from the same period the year before, to $22.1bn. Azure, the firm’s cloud-infrastructure service, grew by 46% – down slightly from 48% in the previous quarter. Microsoft is the first of the tech giants to report results for the end of the year.
Market turbulence has cut the market values of Microsoft, Apple, Amazon, Alphabet and Meta by a collective $1.3trn since the start of January, says Dan Gallagher in The Wall Street Journal. Much of the loss has been driven by wider inflationary concerns and interest-rate increases. But there were also concerns Microsoft wouldn’t
