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Microsoft’s FQ4 Beats Expectations, Investors Send Stock Lower On Phone Losses | |
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| Time: 01:41 EST/06:41 GMT | News Source: TechCrunch | Posted By: Erick Cordero | ||
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Following the bell, Microsoft reported its fiscal fourth quarter financial performance, including revenue of $22.2 billion, and adjusted earnings per share of $0.62. The company took a stiff charge in the quarter relating to its writedown of hardware assets that it purchased from Nokia. Using normal accounting methods, Microsoft had operating income of negative $2.1 billion in the quarter. Analysts had expected Microsoft to report $0.56 in per-share, adjusted profit, on revenue of $22.06 billion. The company’s revenue fell from 5 percent a year-ago tally of $23.382 billion, due in large part to a slipping phone-related top line. In total, using normal accounting techniques, Microsoft lost $3.2 billion in quarter, or $0.40 per share. In contrast, the company had regular profit of $4.6 billion in the year-ago quarter. | ||
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