Microsoft has joined the growing band of IT suppliers posting
revised earnings estimates due to the PC slowdown.
Microsoft has blamed a slowing global economy for a sharp
decrease in software sales. Today's revised earnings statement said
revenue and earnings for Q4 will be below the company's previous
expectations by as much as 5-6%.
John Connors, chief financial officer at Microsoft said: "We
believe, like many other technology companies, that the current
weakness in worldwide economic conditions is resulting in a
slowdown in PC sales, corporate IT spending, and consumer online
services and advertising. Accordingly we are adjusting our revenue
and earnings expectations for the current quarter, and for the
balance of the fiscal year."
