Microsoft weathers the financial storm with 12% revenue growth

Microsoft announced its fourth quarter 2022 results yesterday, posting revenue of $52 billion, up 12% year-on-year. However, the company’s net income was relatively flat at $16.7 billion, at a much more modest increase of just 2%.In a call with analysts, Microsoft chief financial officer, Amy Hood, said unfavorable foreign exchange rate movement within the quarter negatively impacted revenue and diluted earnings per share, while extended production shutdowns in China and a deteriorating P