Shares of tech giant Microsoft dipped to unexpectedly low levels last Thursday after a lower than expected revenue showing. The company also took a change on their unsold Surface RT gadget which was worth US$900 million.
According to an analyst from Pacfic Crest Securities Brendan Barnicle, this latest figures from Microsoft is the worst he has ever seen. He even continued to proclaim that everything about the company was 'weak.'
The tech titan reported a profit increase of about 10%, equal to almost US$20 billion. Office Suit sales drove the revenue of the company. However, even if the popular brands (MS Word, Excel, Powerpoint) pushed the profit margin up, it was not enough to reach prior analysts' prediction of US$20.7 bllion on average.
Microsoft ultimately turned a US$0.59 per share.
The company's chief executive officer Steve Ballmer announced in an employee memorandum that Microsoft will be reshuffling in order to innovate quickly and with more efficiency.
Join the Conversation