James Lee
12:34 (BST)
18/07/2008
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Microsoft's shares fall 6%
Microsoft's shares have fallen 6 per cent in after-hours electronic trading in New York, following the announcement that current quarter's predicted earnings are USD 0.47 to USD 0.48 per share, less than the expected USD 0.49.
The company posted the results for its quarterly earnings yesterday, and predictions for the next quarter, which were worse than many analysts expected.
Microsoft accounts for the overall poor results by placing the blame on its online division losing USD 488 million during the quarter, due to a loss in advertising revenue.
This comes at a time when the company's games division recorded a profit for the first year.
"This is the area where we're seeing direct impact from the economic slowdown," Microsoft's chief financial officer Chris Liddell told the BBC.
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