Microsoft reports low sales for October-December quarter

US technology giant Microsoft says its sales for the October-December quarter were up just over one percent from the same period a year ago, amid fears of a global economic slowdown.

Microsoft on Tuesday reported that its revenue for the quarter totaled 52.747 billion dollars.

Profits were down 12 percent, to 16.425 billion dollars.

The low sales are attributed to the fact that many users had already bought new PCs while working from home due to the coronavirus pandemic.

In addition, more businesses concerned about an economic slowdown are reviewing their IT investment plans.
Microsoft saw a huge drop in sales of its Windows software to PC manufacturers.

The company expects intensified competition with its rivals in all fields, and a possible decrease in sales.

Earlier this month, the company announced that it will lay off about 5 percent, or 10,000, of its employees.