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Microsoft Profit Dips 11%

Posted Apr 24, 08 4:43 PM CDT in Business,  Technology 

(Newser) – Microsoft's profits fell 11% in the third quarter amid concern that corporate clients are cutting back during the economic downturn, Bloomberg reports. The software giant reported net income of $4.39 billion, or 47 cents a share, down from $4.93 billion a year ago. The company's revenue remained flat at $14.5 billion, in line with estimates but disappointing investors, Bloomberg notes. Shares fell 4.5%.

"Overall the results were pretty good, though investors probably were hoping for more out of fourth-quarter guidance," one analyst told MarketWatch. Microsoft projects revenue between $15.5 billion and $15.8 billion this quarter, between 45 and 48 cents a share. Sales of Windows came in lighter than expected.

Sources Bloomberg, MarketWatch

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Microsoft's CEO Steve Ballmer answers a question from the audience at the Microsoft 2008 MVP Global Summit in this April 17, 2008, file photo.   (AP Photo/Kevin P. Casey, File)
Bill Gates, chairman of Microsoft Corp., gives the keynote speech at the Institute for Systems Biology International Symposium in Seattle in this April 21, 2008, file photo.   (AP Photo/Kevin P. Casey, File)
Microsoft's quarterly profit was down 11%, the company announced today.   (AP Photo/Joe Brokert, File)
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