Microsoft Quarterly Results Saved by Cloud Computing

General view of Microsoft Corporation headquarters at Issy-les-Moulineaux, near Paris, France, April 18, 2016. REUTERS/Charles Platiau/File Photo
General view of Microsoft Corporation headquarters at Issy-les-Moulineaux, near Paris, France, April 18, 2016. REUTERS/Charles Platiau/File Photo
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Microsoft Quarterly Results Saved by Cloud Computing

General view of Microsoft Corporation headquarters at Issy-les-Moulineaux, near Paris, France, April 18, 2016. REUTERS/Charles Platiau/File Photo
General view of Microsoft Corporation headquarters at Issy-les-Moulineaux, near Paris, France, April 18, 2016. REUTERS/Charles Platiau/File Photo

Microsoft on Tuesday said sales slowed and profits slumped in the last quarter of 2022 as a darkening economic outlook pushed it to lay off 10,000 workers.

The Washington state-based tech giant -- owner of LinkedIn, Xbox and Windows -- said overall sales rose just two percent in the October-to-December period, to $52.7 billion, the slowest rise in six years.

Net profit landed at $16.4 billion for the quarter, down 12 percent year-on-year, according to its earnings release.

The results however met, or in some segments exceeded, expectations and Microsoft's share price was up by more than four percent in late trading after the results were announced.

Microsoft chief executive Satya Nadella last week said he was laying off about five percent of the company’s workforce, just days before pumping several billion dollars into OpenAI, the company behind the controversial chatbot ChatGPT.

The job cuts matched similar culls at other tech giants as companies reversed a major hiring spree during the pandemic when demand for tech products exploded, AFP reported.

Nadella has said that ChatGPT, and other artificial intelligence breakthroughs by the OpenAI research company, would be integrated into Microsoft products that include the Windows operating system, Office and the Bing search engine.

Microsoft is also trying to overcome major regulatory hurdles to complete its buyout of video gaming giant Activision Blizzard for $68.7 billion.

US and EU regulators are highly skeptical of the purchase and allege it would give an unfair advantage to Microsoft's Xbox console over rivals like Sony's PlayStation.

The group's quarterly results were eagerly awaited by the market for the closer they offer at cloud computing, which is Microsoft’s biggest business and a bellwether for the larger economy.

The company’s "intelligent cloud" business, which brings together its servers and data analytics services, brought in $21.5 billion in the second quarter of its fiscal year, up 18 percent year-on-year.

The growth of its remote computing platform, Azure, slower than usual at 31 percent, carried the activity.



KACST Manufactures 25 Advanced Electronic Chips by Saudi Talents

The chip design process involved researchers from the National Laboratory, alongside students from four Saudi universities. (SPA)
The chip design process involved researchers from the National Laboratory, alongside students from four Saudi universities. (SPA)
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KACST Manufactures 25 Advanced Electronic Chips by Saudi Talents

The chip design process involved researchers from the National Laboratory, alongside students from four Saudi universities. (SPA)
The chip design process involved researchers from the National Laboratory, alongside students from four Saudi universities. (SPA)

Saudi Arabia’s King Abdulaziz City for Science and Technology (KACST) announced on Thursday its successful design and fabrication of 25 advanced electronic chips, developed by Saudi talents in its cleanroom laboratories for purposes of training, research, and development.

The achievement is part of KACST’s ongoing efforts to support and enable the semiconductor ecosystem in the Kingdom.

These chips are distinguished by their versatility and can be used in a range of applications, including electronics, wireless and high-frequency communications, integrated circuits, energy-efficient lighting, micro-sensor systems, as well as industrial and research applications in measurement and testing.

The chip design process involved researchers from the National Laboratory, alongside students from four Saudi universities. This effort was conducted under the initiatives of the Saudi Semiconductors Program (SSP), which aims to build national expertise in this critical field.

The chips can be used in a range of applications. (SPA)

This milestone is part of a series of strategic initiatives led by KACST to support the semiconductor sector in the Kingdom, including the Saudi Semiconductors Program to boost research and development and qualify human talent and the "Ignition" semiconductor incubator program to support startups and entrepreneurs.

Through these initiatives, KACST underscored its commitment to the ambitious goals of Saudi Vision 2030 by localizing strategic technologies, empowering national talent, and achieving technological self-sufficiency in advanced domains.