Friday, April 24, 2009

Microsoft sales fall for first time in 23 years

Software giant revenue drops 6% and earnings plummet 32% as PC sales continue to weaken.

Microsoft Corp. said Thursday that declining PC sales hurt revenue, as the software giant reported quarterly sales that fell for the first time in its 23-year history as a public company.

The Redmond, Wash.-based company said sales fell 6% from a year earlier to $13.7 billion, missing analysts' expectations of $14.1 billion.

Meanwhile, the company's net income fell 32% to $2.98 billion, or 33 cents per share, in its third quarter ended March 31.