Microsoft brings in lower-than-expected net income, revenue

Microsoft has invested in its cloud-based business arm, but recent financial results have still left investors disappointed, according to The New York Times.

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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