Microsoft Profits Fall Due To Reorganisation Of Company
There was a significant Microsoft profits fall due to the reorganisation of the company after they purchased the Nokia phone business. The profits dropped 10% in the 3 months up to the end of December compared to the figures from 12 months previous. They reported a net income of $5.86 billion (about £3.86 billion), which is down 10.6% on the same quarter of the previous year.
These financials included a $243 million (about £160 million) charge for the reorganisation of Microsoft due to them buying Nokia’s phone business in September 2013. The sale of 6.6 million Xbox consoles during that quarter really helped the figures.
Microsoft CEO Satya Nadella said “We are taking bold steps forward across our business, and specifically with Windows 10, to deliver new experiences, new categories and new opportunities to our customers.”