Technology bigwig Microsoft Corporation (NASDAQ: MSFT) failed to meet fourth-quarter expectations on both revenue and earnings count. Yet, the stock rose over 6% during after-hours trading on the company’s renewed expectations for the future. Microsoft attributed the weak quarterly performance to a milieu of unfavorable foreign exchange rates, extended shutdowns in China, slowing personal computer (PC) demand, and sluggish advertising spending. Additionally, the company recorded operating expenses to the tune of $126 million related to bad debt expense, asset impairments, and severance owing to its decision to scale down its Russian business. Notably, Microsoft continued to reward shareholders with share buybacks and dividends worth $12.4 billion during the quarter.
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