Microsoft sees slowest sales growth in six years

Microsoft sales have slowed sharply as customers facing economic strains cut their spending on technology.

The firm said sales rose just 2% in the three months to December, to $52.7bn (42.7bn), the smallest quarterly increase in more than six years.

The update came just days after the firm said it would reduce its workforce by roughly 5%, eliminating 10,000 jobs.

The tech industry has been hammered by job cuts in recent months, as advertising and other spending slows.

Businesses are worried about the economy, while households who splashed out on computers and other tech while stuck at home during the pandemic have been cutting back, especially as the cost of living rises.