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Microsoft revenues do well, but Q4 profit hit by Nokia handset buyout

The acquisition of Nokia's handset business helped Microsoft's revenue rise, but sank its quarterly profit year-on-year (NASDAQ:MSFT)
| Business, Financial & Legal News | Posted: Jul 23, 2014 1:07 am

Microsoft has announced its fiscal fourth quarter earnings, and although it's in profit, the company claims it took a hit from Nokia's handset business.

 

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Quarterly profit was $4.61 billion, down from $4.96 billion for the same quarter last year. That leaves it at 55 cents per share, quite a touch short of Wall Street's expectations of 60 cents per share on average. And while the acquisition of Nokia's handset business may have impacted on Microsoft's quarterly profits, revenues reached $23.38 billion, beating estimates of $23 billion, with the company largely having Nokia sales to thank for this. Enterprise also performed well.

 

"We are driving growth with disciplined decisions, bold innovation, and focused execution," Satya Nadella, new-ish Microsoft CEO said. "I'm proud that our aggressive move to the cloud is paying off - our commercial cloud revenue doubled again this year to a $4.4 billion annual run rate." Executive veep Amy Hood said in a statement that as the company enters fiscal 2015, it's "focused on aligning" its resources towards strategic investments - perhaps referring to Microsoft's recent decision to make one of the largest job cuts in the history of the tech industry - of a staggering 18,000 people.

NEWS SOURCES:Microsoft.com, Uk.reuters.com

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