Microsoft Profit Down 22 Percent
October 18, 2012
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Microsoft Thursday reported a quarterly profit of $4.47 billion, a 22 percent drop from the same time last year.
The performance, which was below analyst expectations, was attributed mostly to declining sales of PCs.
“We delivered record fourth quarter and annual revenue, and we’re fast approaching the most exciting launch season in Microsoft history,” Steve Ballmer, chief executive officer of Microsoft, said in a statement.
“Over the coming year, we’ll release the next versions of Windows, Office, Windows Server, Windows Phone, and many other products and services that will drive our business forward and provide unprecedented opportunity to our customers and partners.”
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