Microsoft Q1 2023: profits and Windows down but Xbox and devices up
It’s a new financial year for Microsoft, and the Windows and Xbox maker has just posted the first quarter of its 2023 financial results today. Microsoft made $50.1 billion in revenue and a net income of $17.6 billion during Q1. Revenue is up 11 percent but net income has decreased by 14 percent — meaning profits are down at Microsoft this quarter.
While there were signs of PC declines earlier this year, it’s clear this quarter that the PC is very much in decline, and that has impacted Microsoft’s Windows results. PC shipments experienced another big decline in the recent quarter — 15 percent, according to IDC. Geopolitical tensions, inflation, and continued supply chain challenges are all contributing to PC sales issues, alongside softer...