Associated Press
Posted on July 19, 2013 at 12:01 PM
Updated today at 12:02 PM
NEW YORK (AP) ? Microsoft's stock is taking a hit after the software giant behind Windows, the Xbox and Surface tablets reported disappointing results for the latest quarter.
The results, which fell below Wall Street's expectations, included a large write-off for Microsoft Corp.'s surface RT business. A poor reception for Windows 8 contributed to a revenue drop in the company's operating system software unit.
Microsoft's stock is down nearly 11 percent to $31.59 in midday trading. The stock is still up about 18 percent year-to-date.
Microsoft announced a major reorganization late week, aimed at helping it transform into a "devices and services" company that is less reliant on providing software for personal computers. The earnings miss raised new questions as to whether the transition will succeed.
?
Business News Video
More VideoSource: http://www.wfaa.com/news/business/216177991.html
jeremy renner best buy black friday deals breaking dawn part 2 breaking dawn part 2 Jennifer Lacy Honey Baked Ham hostess
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.