Microsoft logs slowest quarter growth in 6 years, PC sales nosedive

Microsoft has recorded its slowest sales growth in more than six years in its December quarter of 2022, as it took a $1.2 billion hit after laying off 10,000 people amid poor PC sales globally.

Revenue was $52.7 billion and increased 2 per cent while net income was $16.4 billion, decreased 12 per cent for the quarter that ended December 31.

Revenue in the ‘More Personal Computing’ was $14.2 billion and decreased 19 per cent. While Windows OEM revenue decreased 39 per cent, Xbox content and services revenue decreased 12 per cent and devices revenue decreased 39 per cent.

Microsoft Chairman and CEO Satya Nadella said the next major wave of computing is being born, as the Microsoft Cloud turns the world’s most advanced AI models into a new computing platform.