The software giant has announced its first revenue decline in 23 years.
Wired PR News – Microsoft has reported its first revenue decline in 23 years. As reported by the Associated Press (AP), the software giant has stated that its revenue from the fiscal third quarter is lower than last year’s and its profit fell by 32 percent.
As noted by the AP, Microsoft has continued to remain profitable despite the recession; however, the economic circumstances have had a significant impact on the company’s operations. Microsoft CFO Chris Liddell is quoted in the report as stating, “I didn’t see any improvement at the end of the quarter that gives me encouragement that we’re at the bottom and coming out of it.”
Taunya Sell, a Ragen MacKenzie analyst is quoted as stating of the company’s performance, “I think it was a good quarter in a tough environment… the two things you can do in a tough environment — try to keep costs down, and make sure customers still want to buy your products.”