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January 27, 2015

Microsoft earnings report doesn't excite the market

SAN FRANCISCO (AP) — Big jumps in sales of its Surface tablets, cloud computing software and Lumia smartphones drove Microsoft's quarterly revenue above expectations, as CEO Satya Nadella continues to steer toward the mobile gadget market and shift Microsoft away from its traditional focus on the PC.

Revenue from cloud computing products, in which businesses pay to use online software housed in Microsoft's data centers, more than doubled. The division is now on track to bring in $5.5 billion in sales this year. Surface revenue spiked 24 percent to over $1 billion. Another big seller? Xbox — which sold 6.6 million consoles in the holiday quarter. And while profit dropped on big charges for layoffs, other restructuring efforts and integrating the Nokia phone business, Microsoft's earnings matched Wall Street estimates.


 
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