Cloud to PCs, Microsoft Forecasts Spook Investors as Economy Bites

Cloud to PCs, Microsoft Forecasts Spook Investors as Economy Bites
A phone in front of a Microsoft logo displayed in this illustration taken on July 26, 2021. Dado Ruvic/Reuters
Reuters
Updated:

Microsoft Corp. on Tuesday projected second-quarter revenue below Wall Street targets across its business units, stoking fear that macroeconomic headwinds are impacting the cloud business in addition to the PC unit.

Revenue growth in the first quarter was Microsoft’s lowest in five years, and shares of the software giant fell 7 percent in extended trading.