Microsoft didn’t exactly end its best year on a high note. In this environment, though, investors seem more than happy for a repeat performance.
The software giant’s fiscal fourth-quarter results late Tuesday showed Microsoft resilient but not immune to the broad economic forces weighing on businesses across the globe. Revenue and operating income both narrowly missed Wall Street’s targets despite the company trimming its forecast in June due to the effects of the stronger dollar. Microsoft’s crucial cloud segment also came in a bit below expectations for the first time in at least five years, according to FactSet. Still, Microsoft closed its fiscal year with 18% revenue growth—its highest since 2008—and operating margins staying at a two-decade high of 42% for the second straight year.
