Microsoft profit sinks; bottom not seen

Microsoft Corp. posted a sharp drop in fiscal-third-quarter profit Thursday, as sales of computers loaded with the company's software fell and as it absorbed charges related to layoffs and declining investments.

Microsoft also registered its first year-over-year decline in quarterly sales since it went public in 1986 and said it expects "weakness to continue through at least the next quarter."

Yet investors seemed relieved that the Redmond, Wash.-based company's results were not worse than many feared. Microsoft stock rose as high as 6% Friday to $20.08 in recent action.

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- Posted: 2009-04-24 10:43:24

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