Tags:
Journalism of Courage
Software giant Microsoft has reported a 29 per cent drop in net income at USD 3.04 billion in the fourth quarter ended June 30,with declining sales in global PC market impacting its revenues.
The company had a net income of USD 4.29 billion in the corresponding year-ago period,Microsoft said in a statement.
Revenue plunged 17 per cent to USD 13.09 billion in the latest quarter from USD 15.83 billion in the same quarter previous year.
“Our business continued to be negatively impacted by weakness in the global PC and server markets,” Microsoft Chief Financial Officer Chris Liddell said,adding in light of that environment,it was an excellent achievement to deliver over USD 750 million of operational savings compared to the prior year quarter.
Revenue declined across all segments primarily due to weakness in the global PC market and the unfavorable economic environment,the statement said.
Revenue from Windows operating systems declined reflecting PC market weakness and a decline in the Original Equipment Manufacturer (OEM) premium mix. Revenue from Windows was also impacted by a USD 276 million deferral for the Windows 7 Upgrade Option program,it added.
