Microsoft sales fall for first time in its 23 years
Microsoft Corp. said Thursday that declining PC sales hurt revenue, as the software giant reported quarterly sales that fell for the first time in its 23-year history as a public company. The Redmond, Wash.-based company said sales fell 6% from a year earlier to $13.7 billion, missing analysts’ expectations of $14.1 billion.
Results included charges totaling 6 cents per share for job cuts and investments that took place in the quarter. Without the charges, Microsoft earned 39 per share, in line with forecasts by analysts polled by Thomson Reuters, which typically exclude one-time items. Microsoft said weakness in the global PC market negatively impacted its results. Still, shares of Microsoft rose 4% after hours, as the company performed roughly in-line with expectations. In the previous quarter, results came in well below forecasts, and Microsoft rescinded its prior outlook for 2009.
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