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Microsoft Windows hurt by PC sales slump

2 Min Read
Microsoft

Microsoft’s quarterly profit has missed analysts’ estimates as a continued slump in personal computer sales hurt the company’s core Windows business.

The firm’s net income fell to $3.76bn (£2.6bn) in the third quarter from $4.99bn a year earlier.

Its shares were down more than 4% in after hours trading.

Revenue in its cloud business, which includes Azure, rose 3.3% to $6.1bn, but operating profits at the division shrank 14%.

“We would have liked to have seen 7% to 9% growth,” said Dan Morgan, a portfolio manager at Synovus Trust, which holds Microsoft shares, said of cloud revenue.

“We’re trying to validate this story that Microsoft is truly becoming a cloud company, and they’re not going to be relying on the desktop computer.”

Revenue at the software giant fell to $20.53bn from $21.73bn, lower than the $22.09bn analysts had expected.

Continued weakness in the personal computing market hobbled demand for one-time licences for some of its products, the company said.

While some analysts are hungry for more growth from Microsoft, other analysts are adopting a wait-and-see approach.

“Microsoft’s cloud business is gaining sales and momentum in the marketplace, so I am willing to give them the benefit of the doubt on this quarter’s missed external expectations,” said Matt McIllwain, a venture capitalist at Madrona Venture Group who watches Microsoft closely.

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