Microsoft profit falls 24% over Xbox spending

MICROSOFT Corp, the world’s largest software maker, said fourth-quarter profit fell 24% after the company spent more on its Xbox video-game console.

The company announced it was to buy back $40 billion (€31.66bn) in stock.

Net income fell to $2.83bn (€2.24bn), or 28 cents a share, from $3.7bn (€2.92bn), or 34 cents, a year earlier, the Redmond, Washington-based company said.