Microsoft, amid layoffs, says quarterly profit declined 12% to $16.43 bn
Microsoft on Tuesday 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.
The company reported quarterly profit of $16.43 billion, or $2.20 per share.
Excluding one-time items, the company based in Redmond, Washington, said it earned $2.32 a share, which topped Wall Street expectation for adjusted earnings of $2.29 a share.
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 October-December 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, including Google, Amazon, Salesforce and Facebook parent Meta, to announce mass layoffs.
Microsoft's personal computing .