BBCWatcher writes: After the U.S. markets closed on Thursday, Microsoft posted grim news: revenues down 17% for the just finished quarter (year to year) and profits down 29% despite $1B in cost cutting. The results shocked Wall Street analysts and unsettled the whole market. The quarter capped the first full year revenue decline since MSFT stock started trading publicly in 1986. Nothing worked for the company, with the possible exception of ~$10 XP sales to netbook OEMs. Everything fell, including Windows, Office, servers, Xbox, and Web advertising. Moreover, the advertising, Xbox, Zune, and mobile phone businesses were all deep in the red. Microsoft blamed the economy. However, while Nokia and Dell reported bad results, other tech stalwarts like Apple, Intel (to some extent), Google, and IBM have prospered. Of course, Microsoft remains profitable, though (amazingly) less profitable in the quarter than IBM.
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