Software giant Microsoft Corp. (NASDAQ: MSFT) has entered the new fiscal year on a positive note, reporting stronger-than-expected earnings and revenues for the first quarter of 2023.
The company, which has revolutionized information technology with the Windows operating system, said first-quarter revenues rose 11% from last year to $50.12 billion. The latest number also topped expectations.
In the first three months of fiscal 2023, net profit dropped to $17.56 billion or $2.35 per share from $20.51 billion or $2.71 per share in the comparable period of last year. The latest number came in above the market’s projection.
Check this space to read management/analysts’ comments on Microsoft’s Q1 2023 earning
“In a world facing increasing headwinds, digital technology is the ultimate tailwind. In this environment, we’re focused on helping our customers do more with less, while investing in secular growth areas and managing our cost structure in a disciplined way,” said Microsoft’s CEO Satya Nadella.