PC Market ‘Deteriorating’ but Still Above Pre-COVID Levels: Microsoft
Despite the “changing market” for PCs, Microsoft continues to see more PCs shipped than pre-COVID-19 pandemic, and it’s “taking share,” said CEO Satya Nadella on an earnings call Tuesday for fiscal Q4 ended June 30. “We are seeing higher monthly…
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usage of Windows 11 applications with increased time spent across creative work, collaboration, gaming, media and writing code as people rely on the PC for its unique productivity capabilities, rich interactive experiences and to stay connected,” he said. The “extended production shutdowns” in China due to COVID-19 that continued through May, plus the “deteriorating” PC market in June, “contributed to a negative Windows OEM revenue impact of more than $300 million,” said Chief Financial Officer Amy Hood. Revenue in Microsoft’s personal computing segment was up 2% year over year to $14.4 billion, she said: “Segment results were below our guidance range.” Microsoft sees its Windows OEM revenue declining by high-single digits in its fiscal Q1 ending Sept. 30, assuming that “the trends we saw in June continue through Q1,” said Hood.