Microsoft has made a lot of big moves recently with its massive reorganization a week ago that took steps to better unify the company and get it back on track.
Now with today’s fiscal fourth quarter earnings we can see why Microsoft put these moves into place. Microsoft posted disappointing earnings with revenue of 52 cents per share on revenue of $19.90 billion.
These results missed analyst expectations. Analysts surveyed by FactSet expected to see earnings of 75 cents a share on revenue of $20.72 billion.
One of the big surprises in today’s earnings is that Microsoft is taking a $900 million markdown for their Surface RT tablets. Microsoft calls this “inventory adjustments” and notably, Surface RT tablets saw a steep $150 price drop recently.
Developing post. Refresh for updates.
Filed under: Business
Sean Ludwig 19 Jul, 2013
enclosure: http://venturebeat.files.wordpress.com/2013/06/ballmer-flying.jpg?w=160
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Source: http://venturebeat.com/2013/07/18/microsoft-q4-2013-earnings/
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