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Microsoft Q3 pulled down by higher tax, weak software sales
2016-04-22 10:05:00| Telecompaper Headlines
(Telecompaper) Microsoft said revenues for its third quarter to end March fell to USD 20.53 billion from 21.72 billion, with the operating profit going down to to USD 5.28 billion from 6.59 billion, its net profit sliding to USD 3.75 billion from 4.98 billion and earnings per share falling to USD 0.47 from 0.61. CEO Satya Nadella said the company is seeing momentum across its cloud services and with Windows 10. Results were hurt however by higher tax expenses due to the changing mix of revenue across geographies, as well as between cloud services and software licensing. CFO Amy Hood said results are being hurt by weakness in one-time purchases of software, Bloomberg reported.
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