Microsoft reports 7% profit fall in Q2 2014

Microsoft has reported a 7% fall in profit during Q2 2014.

The tech giant said profit during the March to June period was $4.6 billion, compared with $4.97 billion during the same period last year.

Microsoft said its Nokia division, which it acquired in April, lost $692 million.

Last week, Microsoft announced it would cut 18,000 jobs – the biggest round of job cuts in the company’s 39-year history.

“We are driving growth with disciplined decisions, bold innovation, and focused execution,” Microsoft CEO Satya Nadella said in a statement.

Satya Nadella said Microsoft is choosing to focus on revenues from the company’s cloud division, which he said were set to double to $4.4 billion this year.

Shares in Microsoft were mostly flat in trading after stock market hours.