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.