Latest Business News: Microsoft Profit Below Estimates After Tablet Charge

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Latest Business News: Microsoft Profit Below Estimates After Tablet Charge

by Wochit 1:07 mins

Latest Business News: Microsoft Profit Below Estimates After Tablet Charge

by Wochit 1:07 mins

Microsoft Corp 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. Microsoft reported fourth-quarter earnings of $4.97 billion, or 59 cents a share, on revenue of $19.9 billion. Wall Street expected the tech giant to report fourth-quarter earnings of 75 cents a share on revenue of $20.73 billion. Army General Martin Dempsey, speaking to a Senate panel considering his nomination to a new two-year term as chairman of the Joint Chiefs of Staff, said steep, across-the-board budget cuts have left American armed forces out of balance and less prepared to meet new security threats, a problem that can only worsen with new reductions on the horizon.

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