Wednesday, 26 July 2023 09:46

Microsoft reports rise in revenue, profit despite security woes Featured

By
Microsoft reports rise in revenue, profit despite security woes Image by Alexa from Pixabay

Microsoft has made a profit of US$72.4 billion (A$106.7 billion) on revenue of US$211.9 billion for the fiscal year which ended on 30 June, the company announced on Tuesday, adding that the annual revenue figure was an increase of 7% over the previous fiscal year.

Also announced were figures for the final quarter of the fiscal year, which saw the company pull in US$56,2 billion in revenue, a rise of 8% year-on-year, and profit of US$20.1 billion.

The results come at a time when the company is under pressure over a breach of its Azure platform which led to several US Government sites being hit.

Microsoft has come in for criticism from industry figures even as it obfuscated about the incident, said to be perpetrated by attackers from China, most recently denying a detailed technical post about the breach by cloud security firm Wiz, after having given its blessing to the post.

Added to that, Microsoft is yet to release patches for security holes in both Windows and Office, despite announcing the vulnerabilities during its monthly patch release on 11 July.

Chairman and chief executive Satya Nadella said in a statement: "Organisations are asking not only how – but how fast – they can apply this next generation of AI to address the biggest opportunities and challenges they face – safely and responsibly.

“We remain focused on leading the new AI platform shift, helping customers use the Microsoft Cloud to get the most value out of their digital spend, and driving operating leverage.”

Executive vice-president and chief financial officer Amy Hood added: “We delivered a solid close to the fiscal year driven by Microsoft Cloud quarterly revenue of US$30.3 billion, up 21% (up 23% in constant currency) year-over-year."

The company has recently received a boost in its bid to acquire games giant Activision Blizzard, with the two firms agreeing to extend their deadline for an agreement to 18 October.

Prior to that, Microsoft and Sony agreed to keep the popular game Call of Duty on PlayStation after the acquisition of Activision Blizzard, a step which was seen as moving the deal a step closer.

The deal now awaits approval from the UK's Competition and Markets Authority, which has indicated that it would be open to a change in the transaction which would address the concerns it has set out in its final report.

Read 1300 times

Please join our community here and become a VIP.

Subscribe to ITWIRE UPDATE Newsletter here
JOIN our iTWireTV our YouTube Community here
BACK TO LATEST NEWS here




WOMEN IN PROCESS MINING VIRTUAL EVENT

Enterprises are looking to integrate AI into process mining to future proof their operations.

The recently formed Australian chapter of Women in Process Mining (WIPM) is hosting a Zoom event from 1pm to 2pm on November 14 on the topic Using AI for Process Optimisation.

WIPM is a community designed for women in process mining; to strengthen their leadership, magnify their influence, and pave the way for process mining together.

The event is being hosted by Chapter Leads Kanika Goel, PhD, Claudia M., and Susana Zavaleta, with special guest speaker Jack Basley from global process mining leader Celonis

Register for the Zoom event now!

REGISTER!

PROMOTE YOUR WEBINAR ON ITWIRE

It's all about Webinars.

Marketing budgets are now focused on Webinars combined with Lead Generation.

If you wish to promote a Webinar we recommend at least a 3 to 4 week campaign prior to your event.

The iTWire campaign will include extensive adverts on our News Site itwire.com and prominent Newsletter promotion https://itwire.com/itwire-update.html and Promotional News & Editorial. Plus a video interview of the key speaker on iTWire TV https://www.youtube.com/c/iTWireTV/videos which will be used in Promotional Posts on the iTWire Home Page.

Now we are coming out of Lockdown iTWire will be focussed to assisting with your webinars and campaigns and assistance via part payments and extended terms, a Webinar Business Booster Pack and other supportive programs. We can also create your adverts and written content plus coordinate your video interview.

We look forward to discussing your campaign goals with you. Please click the button below.

MORE INFO HERE!

BACK TO HOME PAGE
Sam Varghese

Sam Varghese has been writing for iTWire since 2006, a year after the site came into existence. For nearly a decade thereafter, he wrote mostly about free and open source software, based on his own use of this genre of software. Since May 2016, he has been writing across many areas of technology. He has been a journalist for nearly 40 years in India (Indian Express and Deccan Herald), the UAE (Khaleej Times) and Australia (Daily Commercial News (now defunct) and The Age). His personal blog is titled Irregular Expression.

Share News tips for the iTWire Journalists? Your tip will be anonymous

Subscribe to Newsletter

*  Enter the security code shown: img0

WEBINARS & EVENTS

CYBERSECURITY

PEOPLE MOVES

GUEST ARTICLES

Guest Opinion

ITWIRETV & INTERVIEWS

RESEARCH & CASE STUDIES

Channel News

Comments