Microsoft reports 12% fall in profits, but cloud computing, hardware sales surge
April 24 , 2015
US technology giant Microsoft has posted a 12% drop in profit to $5 billion for the first three months of 2015.
Like other American companies, the stronger dollar had a “significant impact” on the software firm’s results, Microsoft said.
Sales linked to cloud computing services, however, doubled, exceeding expectations. Chief Executive Officer Satya Nadella said that the third quarter (Microsoft's first quarter begins in July) saw “incredible growth" across cloud services.
The company’s hardware sales have also pleased investors.
Meanwhile, Microsoft's revenues in the third quarter were up by 6% to $21.7 billion.