Microsoft suffered its slowest earnings growth in two years, hurt by a sharp slowdown in its cloud business, declining videogame sales and the effects of strong dollar.
The company on Tuesday posted sales of $51.9 billion for its fiscal fourth-quarter, up 12% for the same period a year earlier, though below Wall Street expectations. Sales were affected by myriad other issues, including supply-chain disruptions in China, scaling back operations in Russia after the country’s invasion of Ukraine and upheaval in the digital-advertising market.
