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Microsoft blames economic woes for missing profit targets
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FILE - People walk past a Microsoft office on Nov. 10, 2016, in New York. Microsoft on Tuesday, July 26, 2022, reported fiscal fourth-quarter profit of $16.7 billion, or $2.23 per share, a rare disappointment from the tech giant that has consistently beat Wall Street expectations in recent years. - photo by AP Photo/Swayne B. Hall, File
REDMOND, Wash. (AP) — Microsoft on Tuesday reported fiscal fourth-quarter profit of $16.7 billion, or $2.23 per share, falling short of analyst expectations for $2.29 per share — a rare disappointment from the tech giant that has consistently beat Wall Street expectations in recent years. It posted revenue of $51.9 billion in the April-June period, up 12% from last year. Analysts had been looking for revenue of $52.94 billion, according to FactSet.