Microsoft Posts $3.1 Billion in Profit, a Year After Big Loss
AFP, SAN FRANCISCO: Microsoft said Tuesday it posted a profit of $3.1 billion in the just-ended quarter, swinging into the black a year after hefty charges from writing off mobile phone assets.
"This past year was pivotal in both our own transformation and in partnering with our customers who are navigating their own digital transformations," said chief executive Satya Nadella.
The profit in the tech giant's fourth fiscal quarter was nearly identical to the loss from a year earlier, when it took charges of more than $7 billion to reflect the lower value of the Nokia mobile phone division it had acquired.
Revenue dipped to $20.6 billion from $22.2 billion in the same period a year ago.
Overall, the results were better than most forecasts and sparked an after-hours gain of more than 3% f...
