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After costly summer layoffs, Microsoft’s cloud has a silver lining


The cost of Microsoft Corp.’s massive summer layoffs and a shift in focus to the mobile market has meant a dip in profits for the tech giant. Yesterday the company released its fiscal first quarter earnings, reporting a 13 percent slide in profits from 62 cents a share this time last year to 54 cents a share. But as Satya Nadella completes his second full quarter as Microsoft CEO, sales are up 25 percent from this time last year to $23.2 billion.

As the company pushes on with its transitions following the $7.17 billion acquisition of Nokia Oyj’s mobile phone division in April, hefty operating costs have been incurred, while company layoffs set Microsoft back a reported $1.14 billion in severance packages shared among 14 percent of 125,000 global employees. It’s not all bad news though; Lumia phone sales rose from 8.3 million handsets sold to 9.3 million over the year, resulting in $2.6 billion in sales revenue for Microsoft’s smartphone division.

To learn more and to read the entire article at its source, please refer to the following page, After costly summer layoffs, Microsoft’s cloud has a silver lining- SiliconANGLE.com 

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