Bloomberg: Microsoft Profit Falls 29% as Software Demand Wanes

Bloomberg:

July 23 (Bloomberg) – Microsoft Corp. fell as much as 8.8 percent in late trading after reporting a 29 percent profit drop and sales that missed analysts’ estimates, a sign that demand for Windows and Office software is still declining.

Fourth-quarter net income was $3.05 billion, or 34 cents a share, compared with $4.3 billion, or 46 cents, a year earlier, the Redmond, Washington-based company said today in a statement. Revenue fell 17 percent to $13.1 billion, short of the $14.5 billion predicted by analysts in a Bloomberg survey.

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