A stumbling miss that includes a $900 million charge thanks to Surface RT inventory adjustments. That write-down, which is evidently driven by the Surface RT price reduction Microsoft announced earlier this week is worth $0.07 per share. Accounting for that, earnings per share are 66 cents, which is still far below expectations.
Bad news, for which Microsoft is already paying dearly. The company’s shares are trading down 4 percent as I write this.