Microsoft shares slump as earnings miss Wall Street's estimates
Microsoft Corp. shares dropped in Thursday's extended session after the software giant missed Wall Street's estimates on quarterly earnings. Microsoft reported its fiscal third-quarter earnings fell to $3.76 billion, or 47 cents a share, from $4.99 billion, or 61 cents a share. On an adjusted basis, the company would have earned 62 cents a share. Revenue decreased to $20.5 billion versus $21.7 billion. Analysts surveyed by FactSet had forecast adjusted earnings of 64 cents a share on revenue of $22.1 billion. Shares fell 3.8% in after-hours trading.
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