Microsoft: Q1 Earnings Fall Short, Stock Drops After Hours
Quarterly revenue was reported at $16.01 billion, an 8 percent drop from the $17.37 billion in revenue recorded over the same quarter one year ago. Earnings per share – which measured 53 cents – dropped 22 percent from last year’s first quarter mark of 68 cents per share.
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The quarterly numbers also fell short of analysts’ projections. Earnings per share were expected to be 56 cents, while revenue had been forecast at $16.42 billion. However, if those numbers are adjusted to include deferred revenues from Windows 8 pre-orders and upgrade offers, Microsoft would have beaten the analysts’ revenue and EPS expectations handily.
Still, Microsoft shares were most recently trading down 3.1 percent at $28.59 after the markets closed Thursday.
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