Arab Today, arab today wall street hammers microsoft after earnings miss
Last Updated : GMT 21:31:04
Arab Today, arab today
Arab Today, arab today

Wall Street hammers Microsoft after earnings miss

Arab Today, arab today

Arab Today, arab today Wall Street hammers Microsoft after earnings miss

New York - AFP

Microsoft shares were hammered Friday after a disappointing earnings report cast doubts on the tech giant\'s transition to a post-PC world. Shares in the US tech giant plunged 11.4 percent to close at $31.40. The company announced a profit of $4.97 billion in the past quarter, but its results were hit by a writedown linked to disappointing sales of its Surface tablet computer. \"These results demonstrate that the weak PC market is clearly catching up to Microsoft and the recently announced restructuring will take time to positively impact the business and seems limited from a cost saving perspective,\" said Barclays analyst Raimo Lenschow. Microsoft took a $900 million charge for \"inventory adjustments\" for its Surface RT, the device aimed at breaking into the tablet market, which is growing while traditional PC sales are slumping. Microsoft has not released sales data for Surface, but analysts say the device has been disappointing. Microsoft said that consumer PC sales were down 20 percent from a year ago, but are trying to transition the company to mobile computing. \"Our Windows business declined as the device market continued to evolve beyond the traditional PC,\" Microsoft Chief Financial Officer Amy Hood told analysts Thursday. \"We are working to transition the business into this modern era of computing, taking advantage of the new scenarios enabled by Windows 8,\" she said. \"As we\'ve said before, given the complexity of the ecosystem, this journey will take time, but we continue to make incremental progress.\" Microsoft last week announced a sweeping reorganization of the company to \"enable us to innovate with greater speed, efficiency and capability in a fast changing world.\" The \"far-reaching realignment\" was designed to help integrate efforts around its software and devices. But many analysts remained skeptical. \"PC sales will likely remain a headwind for the foreseeable future,\" said Matthew Hedberg at RBC Capital Markets, who cited a \"lack of near-term catalysts\" and \"limited demand thus far\" for its Surface tablets. Ross MacMillan at Jefferies said that the new Windows 8 operating system \"is an attempt to create a single OS for PCs, tablets and hybrid devices,\" but that \"initial reviews suggest a steep learning curve and expectations for the product cycle are low.\"

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today wall street hammers microsoft after earnings miss Arab Today, arab today wall street hammers microsoft after earnings miss

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today wall street hammers microsoft after earnings miss Arab Today, arab today wall street hammers microsoft after earnings miss

 



Arab Today, arab today
Arab Today, arab today Youssra depended on colored foam

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam
Arab Today, arab today Taxi! Transport gets an overhaul

GMT 12:09 2017 Sunday ,24 September

Taxi! Transport gets an overhaul
Arab Today, arab today Etiquette expert underlines importance of gifts

GMT 17:52 2017 Sunday ,03 September

Etiquette expert underlines importance of gifts
Arab Today, arab today Turkey warns of 'security' steps

GMT 12:17 2017 Sunday ,24 September

Turkey warns of 'security' steps
Arab Today, arab today North Korea 'more opaque'

GMT 10:50 2017 Sunday ,24 September

North Korea 'more opaque'
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Ministry seeks to improve education

GMT 14:49 2017 Sunday ,17 September

Ministry seeks to improve education
Arab Today, arab today 'Lady Beast' fights for girl gamers

GMT 10:27 2017 Sunday ,24 September

'Lady Beast' fights for girl gamers
Arab Today, arab today Psychologists help Mexico deal

GMT 05:05 2017 Sunday ,24 September

Psychologists help Mexico deal
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today Third generation adds more power

GMT 13:40 2017 Sunday ,24 September

Third generation adds more power
Arab Today, arab today Carmakers face billions in European

GMT 12:37 2017 Saturday ,23 September

Carmakers face billions in European
Arab Today, arab today Lebleba is preoccupied in filming 'Back Street'

GMT 08:56 2017 Thursday ,21 September

Lebleba is preoccupied in filming 'Back Street'
Arab Today, arab today Big Western brands polluting oceans

GMT 20:10 2017 Saturday ,23 September

Big Western brands polluting oceans

GMT 08:59 2017 Wednesday ,20 September

Youssra prepares for launching her program

GMT 10:16 2017 Friday ,22 September

All eyes on May as she prepares

GMT 16:53 2017 Saturday ,02 September

Mai importance of gifts during Eid Al-Adha

GMT 12:01 2017 Wednesday ,20 September

Puerto Rico, Virgin Islands brace

GMT 10:46 2017 Saturday ,05 August

Nanis reveals simple ideas for home renovation

GMT 18:11 2017 Saturday ,23 September

Doctor provides advices to families

GMT 13:36 2017 Saturday ,23 September

unveils Joon - the 'millenials' airline

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 12:46 2017 Thursday ,21 September

Google likely to buy stake in Taiwan smartphone maker HTC

GMT 11:37 2017 Saturday ,12 August

Fashion designer reveals her new collection
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday