Microsoft’s fourth quarter unravels, Surface RT bet a flop
Microsoft’s fourth-quarter earnings and sales missed expectations by a wide margin as the PC market slowdown and a write-down of Surface RT inventory painted a bleak picture.
The company reported fourth-quarter earnings of $4.97 billion, or 59 cents a share, on revenue of $19.9 billion. The results include a $900 million inventory write-down for Surface RT that amounts to 7 cents a share.
Wall Street was expecting Microsoft to report fourth-quarter earnings of 75 cents a share on revenue of $20.73 billion. For the year, Microsoft reported earnings of $2.58 a share on revenue of $77.85…
Read this article: Microsoft’s fourth quarter unravels, Surface RT bet a flop