REDMOND, Wash. — Microsoft Corp. reported fourth-quarter earnings that took a hit from the Nokia devices business that it bought in April, but the company said growth in Internet-based computing services to businesses boosted results.
Net income in the three months through June 30 fell 7 percent to $4.61 billion, or 55 cents per share, from $4.97 billion, or 59 cents per share, a year ago.
Microsoft said the absorption of the Nokia unit cut 8 cents per share from earnings. It lost another net 3 cents on restructuring and tax-related items. Excluding those items, earnings hit 66 cents per share, beating the 60 cents expected by analysts polled by FactSet.
Revenue rose 18 percent to $23.4 billion, although $2 billion came from the Nokia unit. That was slightly better than the $23 billion analysts were looking for.