Business

Investors who hoped that 2023 would bring a change in fortunes to America’s tech companies following their walloping in the markets in 2022 were left disappointed by Microsoft’s earnings. The company reported solid revenue and profits for the final quarter of last year, but said the growth in demand for its cloud services, the main driver of its business, had softened as clients curtailed spending. It was the first of America’s tech giants to publish results for the fourth quarter. Markets are nervously awaiting earnings reports from the others.