Leading technology company Microsoft Corporation reported fourth quarter and full year financial results after market close Tuesday. Here are the key highlights.
What Happened: Microsoft reported fourth quarter revenue of $51.9 billion, up 12% year-over-year. The total missed a Street estimate of $52.47 billion according to data from Benzinga Pro. The company reported earnings per share of $2.23 in the fourth quarter, missing a Street estimate of $2.30.
Higher fluctuations in currencies and production shutdowns in China were cited as impacts on financial results for the quarter. A reduction in advertising spend also hurt results for LinkedIn and Search segments.
The company scaled down its operations in Russia in the fourth quarter, which resulted in $126 million in bad debt expense, asset impairments and severance.
Productivity and Business Processes segment revenue was $16.6 billion for the fourth quarter, up 13% year-over-year. The segment was led by Office 365 Commercial revenue up 15% year-over-year and LinkedIn revenue up 26% year-over-year. Dynamics 365 revenue was up 31% year-over-year.
Intelligent Cloud segment revenue was $20.9 billion, up 20% year-over-year. The segment was led by Azure and other cloud services, seeing revenue growth of 40% year-over-year.
More Personal Computing segment revenue was $14.4 billion in the fourth quarter, up 2% year-over-year. Windows OEM revenue was down 2% year-over-year and Xbox revenue was down 6% year-over-year.
Across all segments, Microsoft Cloud revenue was $25 billion, up 28% year-over-year.
Microsoft reported revenue of $198.3 billion for the full fiscal year, up 18% year-over-year.
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