Microsoft revenue up, but income takes a hit, misses analyst expectations
Revenue from Microsoft’ Surface tablet more than doubled, from $400 million in the first quarter to $893 million in the second quarter
Rsporting just ahead of Apple today, Microsoft said that it was able to grow revenue $23.38 billion for the quarter, but reported net income missed analyst expectations.
“We are galvanized around our core as a productivity and platform company for the mobile-first and cloud-first world, and we are driving growth with disciplined decisions, bold innovation, and focused execution,” said Satya Nadella, chief executive officer of Microsoft. “I’m proud that our aggressive move to the cloud is paying off – our commercial cloud revenue doubled again this year to a $4.4 billion annual run rate.”
To blame for the income miss, according to the company, was the price to integrate the Nokia acquisition. Microsoft will now take a hit thanks to severance as the company announced last week that it would 18,000 jobs over the next year, many of them at Nokia.