Microsoft profits exceed 600 billion kr. in a year

Microsoft reported a profit of 88.1 billion dollars for the fiscal year ending in June, marking an increase of more than 600 billion kroner and a 22 percent rise from the previous year. The company, led by CEO Satya Nadella, experienced a 16 percent revenue increase to 245.1 billion dollars. Growth in the fourth quarter was primarily driven by the cloud sector, where it competes with Amazon and Google, with a 21 percent increase in cloud sales reaching 36.8 billion dollars over the last three months of the fiscal year. Despite the success, a hint of slowing growth led to a 2.6 percent drop in Microsoft’s stock in after-hours trading. Microsoft, founded by Bill Gates, competes with Apple to be the most valuable company in the world and had a market value of approximately 3100 billion dollars compared to Apple’s 3350 billion dollars at Tuesday’s market close.