Thndr Claps » U.S. Claps » Tech 📲 » Bitter-sweet Q1 for Microsoft ☁️
The ClapMicrosoft (NASDAQ: MSFT) beat analysts’ expectations for its fiscal Q1 earnings but reported lower-than-expected cloud revenues.
The DeetsMicrosoft recorded an EPS of $2.35 and revenues of $50.12 billion, more than the expected $2.30 and $49.61 billion.
Total revenue grew by 11% YoY, but net income saw a 14% decline compared to Q1 2021.
Why this MattersMicrosoft intends to slow down hiring, cut its workforce, and manage costs in a more conservative manner following threats of a recession.
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