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24 Apr 2009
Microsoft has posted its first ever quarterly loss in turnover for the third quarter ended 31 March 2009.
The software giant unveiled turnover of $13.65bn, a decline of six per cent from the same period the previous year.
Net profit also dropped 32 per cent to $2.92bn compared to the previous year, but operating profit increased three per cent to $4.44bn.
Further reading
The results included a $290m of severance charges related to a plan to cut up to 5,000 jobs and $420m of impairments to investments.
Kevin Turner, chief operating officer at Microsoft, said: “With our continued R&D investment and our broad suite of products and services, we remain in a great position to compete and gain share in the marketplace.”
Chris Liddell, chief financial officer at Microsoft, said: “While market conditions remained weak during the quarter, I was pleased with the organisation’s ability to offset revenue pressures with the swift implementation of cost-savings initiatives.”
Liddell warned of a similar performance in the quarter to come.
“We expect the weakness to continue through at least the next quarter,” he said.
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