Published July 22, 2014
REDMOND, Wash. – Microsoft is reporting fourth-quarter earnings that came in below analyst expectations, as it took a hit from the Nokia devices business that it bought in April.
Net income in the three months through June 30 fell 7 percent to $4.61 billion, or 55 cents per share, from $4.97 billion, or 59 cents per share, a year ago.
Analysts polled by FactSet were expected 60 cents per share of earnings.
Microsoft Corp. said the absorption of the Nokia unit cut 8 cents per share from earnings.
Revenue rose 18 percent to $23.4 billion, although $2 billion came from the Nokia unit.
That was slightly better than the $23 billion analysts were looking for.
The earnings came after Microsoft announced last week it's cutting up to 18,000 jobs, mostly related to Nokia.