Microsoft Reports Sharp Dip in Q1 Profits

Software giant Microsoft Corp. (MSFT) reported a sharp dip in quarterly profit AH on Thursday. It is the co.’s first quarterly revenue fall on a Y/Y basis in its 23-yr. history as a public company.

For the quarter ended March 31, the Redmond Wa-based company reported net income of $3 billion, or 33 cents a share, compared with $4.39 billion, or 47 cents per share, in the year-ago quarter.

Revenue dropped 5.6% to $13.65 billion. Analysts were expecting $14.1 billion, on average.

Sales at Microsoft’s client division, which makes the Windows operating system, fell 16% while earnings decreased 19%. During its cc M’soft said it expected weakness in its markets to continue through at least the next quarter.

Separately: Amazon’s (AMZN) quarterly net rose 24% to $177 million; American Express (AXP) reports net down 56% to $437 million, or 31 cents a share during the first quarter ending in March, from $991 million, or 85 cents, during the same period a year ago.

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