As the tablet world and smartphone world is getting by without Microsoft, Windows sales were disappointing at $5.05 billion as industry-wide PC sales lagged. The big new pop that may have boosted revenues was that Microsoft said it sold 8 million Kinect units in 60 days, which brought a 55% revenue jump for Entertainment and Devices. The Business Division showed 24% growth due to Office demand.
The company announced that during the quarter, it bought back $5 billion in stock and declared $1.3 billion in dividends. Without the full guidance we are treating this as unfinished business.
Microsoft closed up 0.3% at $28.87 in regular trading and shares first popped but then sank based upon the mixed news. The after-hours session has shares around $28.80.
The public should be outraged that companies can just release earnings on their website rather than via a public newswire. Public companies should be held to higher standards than this. The SEC talks about the freedom of information and Regulation FD, but this is a move away from it to have to deal with such a dual standard.
JON C. OGG
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