Big Tech
Microsoft's Cloud Business Is Booming But Device Sales Continues Its Free Fall
1 day ago | By Observer
Microsoft on Jan. 24 posted a higher-than-expected profit for the last three months of 2022, thanks to its strong cloud and productivity software businesses. But declining sales for its devices including Surface laptops and XBox gaming consoles and weak revenue forecasts for 2023 disappointed investors. Microsoft shares fell more than 3 percent in morning trading today before recovering.
The Seattle-based tech giant reported a net profit of $17.6 billion, or $2.32 per share, on $52.75 billion in revenue for the three months ended Dec. 31. Earnings per share exceeded analyst forecast by 3...
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Boeing Posts a Surprise Loss Despite Booming Aircraft Sales in 2022
1 day ago | By Observer
Boeing today posted an unexpected loss for both the last three months of 2022 and the full year despite a post-Covid rebound in airplane sales that boosted its revenue. Boeing shares fell around 3 percent in this morning.
The aerospace giant recorded a loss of $663 million, or $1.75 per share, for the quarter ended Dec. 31 on $20 billion in revenue and $5 billion in full-year loss on $66.6 billion in revenue. Analysts had expected a net quarterly earnings of $0.26 per share on $20.38 billion in revenue.
The good news is Boeing reported positive cash flow for the first time since 2018...
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