Microsoft Revenue Falls $1B Short of Projections; Shares Tumble After Hours

Ouch:

The global slump in PC sales left a bigger dent than expected in Microsoft’s earnings in the latest quarter, pushing its sales down by 17 per cent from a year before and its after-tax profits down by 29 per cent.

The software giant’s shares slipped nearly 7 per cent in after-market trading on the news, which came as a setback after signs from other big tech companies that the worst of the downturn might lie in the past.

They’ve just finished their worst fiscal year ever. Or perhaps just their worst year yet.

★ Thursday, 23 July 2009