Microsoft Corp. recently announced their revenue of $16.63 billion for the second quarter.
What can you expect in this period of recession? Negative reports ofcourse. Their quarterly profits were down (contrary to revenue, that showed a slight increase):
“Operating income, net income and diluted earnings per share for the quarter were $5.94 billion, $4.17 billion and $0.47, declines of 8%, 11% and 6%, respectively, compared with the prior year.â€
As a result, their stocks went down by 7% in early trading, and not to mention the massive layoffs in the upcoming future. There are both rumors as well as reports :
“While we are not immune to the effects of the economy, I am confident in the strength of our product portfolio and soundness of our approach,†said Steve Ballmer, chief executive officer at Microsoft. “We will continue to manage expenses and invest in long-term opportunities to deliver value to customers and shareholders, and we will emerge an even stronger industry leader than we are today.â€
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