Reuters: Technology News: Microsoft profit below estimates after tablet charge

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Microsoft profit below estimates after tablet charge Jul 18th 2013, 20:18 Tweet Share this Email Print Related News Intel cuts 2013 revenue forecast as PC industry sags Wed, Jul 17 2013 Coke sales disappoint on wet weather, weak economy Tue, Jul 16 2013 J&J results beat forecasts; Elan share sale helps Tue, Jul 16 2013 Wells rides high on 'mortgage horse,' but run may end soon Fri, Jul 12 2013 Microsoft aims to power mobile effort in major overhaul Thu, Jul 11 2013 Analysis & Opinion Microsoft needs focus, gets bigger org chart The Microsoft logo is seen at their offices in Bucharest March 20, 2013. Credit: Reuters/Bogdan Cristel SEATTLE | Thu Jul 18, 2013 4:33pm EDT SEATTLE (Reuters) - Microsoft Corp on Thursday reported lower-than-expected quarterly earnings as slow personal computer sales ate into its Windows business and it took an unexpected $900 million charge for its inventory of unsold Surface tablets. The world's largest software company reported fiscal fourth-quarter profit of 59 cents per share, compared with a 6 cents per share loss in the year-ago quarter when it wrote off the cost of a failed acquisition. Wall Street had expected earnings of 75 cents per share, on average, according to Thomson Reuters I/B/E/S. Revenue rose 10 percent to $19.9 billion, helped by sales of Microsoft's Office suite of applications, but fell short of analysts' average estimate of $20.7 billion. Microsoft said the $900 million charge related to its Surface RT tablet, which was launched alongside Windows 8 in October but has not sold well. Earlier this week, Microsoft said it was drastically cutting prices and expanding distribution of the model to entice buyers. (Reporting by Bill Rigby; Editing by Richard Chang) Tweet this Link this Share this Digg this Email Reprints We welcome comments that advance the story through relevant opinion, anecdotes, links and data. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. For more information on our comment policy, see http://blogs.reuters.com/fulldisclosure/2010/09/27/toward-a-more-thoughtful-conversation-on-stories/ Comments (0) Be the first to comment on reuters.com. Add yours using the box above.

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