Microsoft Corp. recorded Q1 net profit of $4.7 billion, down from the $4.9 billion reported in Q1 last year, on revenue of $20.5 billion, up from $20.4 billion. Turnover from Productivity and Business Processes was up 6% and sales from Intelligent Cloud rose 8%, while revenue from More Personal Computing fell 2% with phone revenue dropping 72% and gaming down 5%.