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Thursday, July 17, 2008

Microsoft results dissapoints stock down 6.4% After-Hours
Microsoft posted fourth-quarter profit that missed analysts expectations and also gave a dissapointing forecast.
Microsoft's net income increased 42% to $4.3 billion from $3.04 billion a year earlier.
For those who do not think the credit crunch is going to effect technology spending:

The deepening credit crunch and increase in gas prices have created what Goldman Sachs says is the worst technology spending environment globally since 2003. Chief Executive Officer Steve Ballmer is seeking to boost sales overseas and efforts have been hampered by piracy in countries such as China, where eight in 10 programs are illegal copies.

Also, with Google offering office (Google Docs, Spread Sheet, and Presentation) online, I wonder if that is going to start eating into Microsoft's profit. Although, I would think that is many years away as corporations are still using Microsoft products.
http://www.bloomberg.com/apps/news?pid=20601087&sid=aXtGyX3_BIMk&refer=home

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