jalaffa Posted July 23, 2009 Share Posted July 23, 2009 LOS ANGELES (MarketWatch) - Investors drove down shares of Microsoft Corp. Thursday evening after the world's largest software maker issued quarterly results that fell short of Wall Street's estimate.Microsoft shares (MSFT 25.56, +0.76, +3.06%) fell 6.9% to $23.82 in heavy volume. The company's fiscal fourth-quarter net income fell to $3.05 billion, or 34 cents a share, from $4.3 billion, or 46 cents a share, in the same period a year earlier. Revenue fell 17% to $13.1 billion.Analysts polled by Thomson Reuters had pegged earnings at 36 cents a share on $14.37 billion in revenue.Ahead of the late session, U.S. stocks jumped, helped by upbeat corporate earnings reports and news that U.S. sales of existing homes rose for a third straight month in June. View: Original Article Link to comment Share on other sites More sharing options...
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