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Microsoft weathers the financial storm with 12% revenue growth

Microsoft announced its fourth quarter 2022 results yesterday, posting revenue of $52 billion, up 12% year-on-year. However, the company’s net income was relatively flat at $16.7 billion, at a much more modest increase of just 2%.

In a call with analysts, Microsoft chief financial officer, Amy Hood, said unfavorable foreign exchange rate movement within the quarter negatively impacted revenue and diluted earnings per share, while extended production shutdowns in China and a deteriorating PC market had contributed to a negative Windows OEM revenue impact of more than $300 million.

The scaling down of Microsoft’s operations in Russia also led to the company recording operating expenses of $126 million related to bad debt expense, asset impairments, and severance.

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Source:: Computerworld