Microsoft’s quarterly earnings report for the end of 2020 has been released, and the results are mixed.

The Wall Street Journal reported that Microsoft’s earnings fell last quarter amid economic concerns. Despite this, the Redmond-based tech giant reported better-than-expected earnings, with strong growth from its Azure cloud unit.

However, CNBC reported that Microsoft’s guidance for the upcoming quarter was lackluster, and that new business growth had slowed in December.

Yahoo Finance reported that Microsoft’s earnings beat expectations, but that cloud growth continued to slow.

CNBC Television also reported that analysts expect Microsoft’s revenue growth to be the slowest it has been in several years.

Overall, Microsoft’s earnings report paints a picture of a company that is still doing well despite the economic downturn, but is not immune to the effects of the pandemic.