| Click for the Finfacts Ireland Portal Homepage |

Finfacts Business News Centre

Home 
 
 News
 Irish
 European
 International
 
 Analysis/Comment

RSS FEED


How to use our RSS feed

 
Web Finfacts

See Search Box lower down this column for searches of Finfacts news pages. Where there may be the odd special character missing from an older page, it's a problem that developed when Interactive Tools upgraded to a new content management system.

Welcome

Finfacts is Ireland's leading business information site and you are in its business news section.

We provide access to live business television and business related videos from: Bloomberg TV; The Wall Street Journal; CNBC and the Financial Times. Click image:

Links

Finfacts Homepage

Irish Share Prices

Euribor Daily Rates

Irish Economy

Global Income Per Capita

Global Cost of Living

Irish Tax 2008

Climate Change Reports

Global News

Bloomberg News

CNN Money

Cnet Tech News

Newspapers

Irish Independent

Irish Times

Irish Examiner

New York Times

Financial Times

Technology News

 

Feedback

 

Content Management by interactivetools.com.

News : International Last Updated: Jul 24, 2009 - 10:50:44 AM


Microsoft reports worst year in 23 years as public company; Tech-dominant Nasdaq Composite Index rises for a 12th day in a row
By Finfacts Team
Jul 24, 2009 - 7:48:00 AM

Email this article
 Printer friendly page

Main entrance to the Microsoft Redmond Campus, Washington State.

Microsoft on Thursday reported fourth quarter  earnings, which capped its worst year in its 23-year history as a public company. Its earnings report came after the closing bell on a day when the tech-dominant Nasdaq Composite Index rose for a 12th day in a row -- the longest such streak since 1992. The index rose 2.5%, boosted by an 11% gain in online auctioneer eBay after it said current-quarter results would top analyst estimates.

Microsoft reported quarterly revenues had declined 17% to $13.10 billion, amid falling global demand for new PCs and servers. The news followed recent positive earnings news from Apple, Intel and IBM.

Operating income, net income and diluted earnings per share for the quarter were $3.99 billion, $3.05 billion and $0.34 per share, which represented declines of 30%, 29% and 26%, respectively, when compared with the prior year period.

Microsoft also presented a cautious outlook for the second half of 2009.

“It’s going to be difficult for the rest of the year,” said Chris Liddell, chief financial officer. “We’re really still not sure we’re out of the woods.”

“Our business continued to be negatively impacted by weakness in the global PC and server markets,” Liddell added. “In light of that environment, it was an excellent achievement to deliver over $750 million of operational savings compared to the prior year quarter.”

For the fiscal year ended June 30, 2009, Microsoft reported revenue of $58.44 billion, a 3% decline from the prior year. Operating income, net income and diluted earnings per share for the year were $20.36 billion, $14.57 billion and $1.62, which represented declines of 9%, 18% and 13% respectively.

“While economic conditions presented challenges this year, we maintained our focus on delivering customer satisfaction and providing solutions to our customers to save money,” said Kevin Turner, chief operating officer at Microsoft. “I am very excited by the wave of product and services innovations being delivered in this next fiscal year.”

The division that includes the Windows operating system, which accounts for more than half of Microsoft's operating profit, was hit especially hard. Revenue fell 29% from a year ago to $3.11 billion.

Results detail

Related Articles


© Copyright 2009 by Finfacts.com

Top of Page

International
Latest Headlines
Markets News Afternoon: Shares fall in Dublin; Inventories at US wholesalers unexpectedly dipped in December indicating rise in demand
The Big Tilt: Western companies unprepared for the rise of Asia; Senior executives should move to region
Markets News Tuesday: Shares fall slightly in Europe and Dublin; German consumer prices dip in January; UK retail sales stall
Tuesday Newspaper Review - Irish Business News and International Stories - - February 09, 2010
US Employment Trends Index rose in January for the fifth consecutive month; Trend points to the resumption of jobs growth soon
Dow Jones Industrial Average closes below 10,000 level; First crossed threshold in March 1999
Markets News Afternoon: Shares up slightly in Europe and US
Markets News Monday: G7 to canvass support for global banking levy; Aer Lingus traffic rose in January; German manufacturing turnover fell in December
Monday Newspaper Review - Irish Business News and International Stories - - February 08, 2010
Asia 2010 growth forecast upgraded - - region will be responsible for 60% of global growth of 4.4%; World's Emerging Markets will account for 75% of growth
US unemployment rate fell to 9.7% in January; Employment dipped by 20,000 and the broad measure of unemployment fell to 16.5%
Markets News Friday: Stocks, commodities and euro plunge; OECD composite leading indicators give stronger signals of economic expansion
Friday Newspaper Review - Irish Business News and International Stories - - February 05, 2010
China says currency exchange rate close to "reasonable" level
Markets News Afternoon: Stocks slide in Europe and US as sovereign debt worries rise; Euro below $1.38; Trichet says ECB’s interest rate are “appropriate”
US retailers posted mixed sales results for January; New weekly jobless benefit claims rose unexpectedly; Manufacturers' orders gained in December
Markets News Thursday: Deutsche Bank reports net income of €5.0 billion in 2009; Embattled Toyota swung into black in last quarter
Thursday Newspaper Review - Irish Business News and International Stories - - February 04, 2010
Growth of global service sector moderated in January
Obama raises issue of China's dollar-pegged currency at time of rising tensions