Microsoft earnings fall short of already lowered expectations

The uncertainty and challenges in the global economy have hit Microsoft, which on Tuesday reported quarterly earnings that fell short of Wall Street’s and its own expectations.

The tech giant said it had $51.9 billion in sales in the quarter ended June 30, up 12% from a year earlier. Profit rose 2% to $16.7 billion.

The results missed even Microsoft’s own reduced expectations. In early June, the company lowered its guidance for the quarter to account for the increasingly strong U.S. dollar.