Microsoft misses expectations, points to foreign exchange rates and weakened PC market

Microsoft announced its fourth-quarter results Tuesday, missing Wall Street’s expectations. The company reported it had $51.9 billion in sales for the quarter that ended June 30, an increase of 12% year-over-year. Analysts were expecting around $52.5 billion. Net income inched up 2% to $16.74 billion. This is considered the slowest revenue growth for Microsoft since 2020.
Microsoft reduced its Q4 prediction in June to between $51.9 billion and $52.7 billion, anticipating that foreign currency exchanges would interfere with its quarterly revenue. And for the most part, the company wasn’t wrong.

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