Microsoft net income drops 24.6% to $3.76 bn
Microsoft on Thursday reported a 24.6% year-on-year decline in net income to $3.76 billion in the quarter ended March. Revenue fell by 5.5% to $20.53 billion. Operating profit of two of the company's three major business divisions, Productivity & Business Processes and Intelligent Cloud, dropped 6.55% and 13.6% respectively, while that of the More Personal Computing division rose by 48.6%.