Microsoft revenue misses, shares tumble ($1B short of projections)

[onehandle]

Source: Reuters

NEW YORK (Reuters) - Microsoft Corp posted a steeper-than-expected 17 percent drop in quarterly revenue and said its business continued to be hurt by the weak global PC and server markets, sending its shares down 8 percent and hurting broader stock futures.

The world's largest software maker, whose operating systems power the vast majority of the world's personal computers, offered little hope for a turnaround in technology until next year, despite recent optimism from others in the sector.

"We still see conditions being challenging for the balance of this calendar year," Chief Financial Officer Christopher Liddell said in a telephone interview.

"At least sequentially, we are seeing a little bit of growth. While things are not necessarily getting better, they may have bottomed out," said Liddell.

Read more: http://tech.yahoo.com/news/nm/20090723/tc_nm/us_microsoft_4

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Meanwhile Apple had it's best year ever and Google gets stronger all the time.

A few days ago a lone prominent analyst said sell your Microsoft stock. Tonight he's looking like a genius.