For its third quarter ending March 31, Microsoft reported decreased net income and revenue. Net income dropped from $4.99 billion — or 61 cents per share — in 2015 to $3.76 billion — or 47 cents per share — this year. Microsoft’s revenue decreased 5.5 percent, from $21.73 billion last year to $20.53 this year.
These results are lower than analyst predictions that anticipated net income of 64 cents per share and revenue of $22.09 billion, according to the report.
Microsoft’s lower-than-expected results are likely attributable to weakened sales in the PC market.
However, Microsoft’s Cloud business remains a strong asset, bringing in an 8 percent rise in revenue to $6.1 billion, according to the report.
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