Microsoft Ends Fiscal Year In Good FormBy cheatmaster 08:18 Tue, 20 Jul 2021 Comments
Microsoft has posted its earnings report for the quarter ending this June and with it the company wraps up its entire fiscal year. The results in Microsoft's Q4 are $4.6 billion net income on $23.38 billion of revenue. Although positive the results descend just a tad short of last year's $4.97 billion on $19.90 billion of revenue.
Last year's Q4 showed $900 million loss mainly due to poor Surface RT sales while this year the loses are down to $637 million of which most was due to one-time payments like restructuring.
For Microsoft's entire fiscal year, ending June 2014, the company has registered $86.8 billion in revenue and $27.7 billion in net income that's around $9 billion revenue more and around $1 billion net income more compared to the previous fiscal year.
Microsoft CEO Satya Nadella, in a statement after the financial results, referenced the company's mobile-first and cloud-first philosophy saying he's proud that the aggressive go is paying off. Cloud revenue for Microsoft has doubled for the fiscal year to $4.4 billion.
The addition of Nokia to Microsoft has added $2 billion in revenue to the company but has taken its toll on the profits. Microsoft's Nadella announced that Microsoft plans to rego $1 billion in cost from the Nokia operation and discontinue its loses by the fiscal 2016 (ending in June of 2016), part of which will be the axing some 18,000 employees, announced last week.
Finally Microsoft's financial report signaled an discontinue to a product that never was. Sadly Microsoft will not ship a recent Surface form factor, which in layman's terms means the Surface Mini will not become a reality. The device was rumored to be a 7" alternative to the bigger Surface series.
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