Microsoft revenues down for quarter and year, with or without Nokia
Microsoft wraps up its 2016 fiscal year with revenue dependencies growing on services and other sources and weaning off products. The net result is still down for the quarter and down for the year as compared to 2015.
Fourth quarter earnings totaled $20.6 billion or a 7 percent drop from 2015’s numbers. On paper, though, the company registered about $3 billion in operating income, better than the $2 billion loss from last year. Remove impairments, integration and restructuring costs and you’ll find that income on those terms was down by a bout a third — this time last year, Microsoft wrote off its acquisition of Nokia worth $7.5 billion.
Annual revenues slid 9 percent from FY2015 to $85.3 billion. On raw numbers, net income improved 38 percent to $16.8 billion — with impairment charges added back in, intake dropped by 20 percent.
Overall, however, revenue beat analyst expectations by about $400 million and MSFT shares rose three percent after the close.
This story was updated to include market reaction.