Microsoft reported a 12% drop in profit for the October-December quarter, reflecting the economic uncertainty it said led to its decision to cut 10,000 workers.
FILE - People walk past a Microsoft office in New York, Nov. 10, 2016. On Tuesday, Jan. 24, 2023, Microsoft reported a 12% drop in profit for the October-December 2022 quarter, reflecting the economic uncertainty it said led to its decision to cut 10,000 workers.
The software maker posted revenue of $52.75 billion in the October-December period, its second fiscal quarter, up 2% from the same period a year ago. Analysts polled by FactSet expected Microsoft to post revenue of $52.99 billion for the quarter. Microsoft last week blamed “macroeconomic conditions and changing customer priorities” for its decision to cut nearly 5% of its global workforce. It’s one of a number of tech companies,
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