The Microsoft corporation reported that the recession has hit their revenue for the first quarter of this year. Declining PC sales worldwide has given the software giant its first sales fall in a quarter for the 23 years iy has been a public company.
The company’s sales fell 6% compared to last year’s numbers. It also failed to defy the expected $14.1 billion pegged by analyst’s forecasts. As for the net income, Microsoft suffered a 32% fall at 33 cents a share.
Microsoft is blaming the worldwide PC sales slump as the definitive factor for dismal results. Still, Microsoft shares rose 4% the day it announced its income report.
Source: CNN Money
