Microsoft Shares Decline On Disappointing Results

Shares of Microsoft Corp. (MSFT) fell as much as 11% Friday, erasing much of the company's pre-earnings stock gains, after the software titan reported disappointing results for its fourth fiscal quarter because of a sharp slowdown in software sales.

Microsoft's more than $1 billion miss on the topline reflected weak demand for personal computers and is the most disheartening quarterly report from a tech giant so far this period. The Redmond, Wash., company's earnings update also weighed on the tech sector Friday, taking air out of recent stock gains.

"Contrary to some others in the PC food chain, Microsoft reported June quarter earnings last night that disappointed on almost every metric, and it doesn't sound like it will get much better any time soon," J.P. Morgan analyst John DiFucci said in a note Friday.

Read Full Article from Wall Street Journal

- Posted: 2009-07-24 12:16:09

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