Microsoft Profit Misses Estimates Amid Surface Writedown
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Microsoft Corp. fell the most in more than four years after fourth-quarter profit missed analysts’ projections by the biggest margin in at least a decade as demand weakens for personal computers running Windows.
Results also were hurt by a $900 million writedown of Surface tablet inventory, shaving 7 cents a share from earnings. Excluding that, profit was 66 cents a share, Microsoft said yesterday, trailing analysts’ 75 cent prediction. The shares plunged as much as 10 percent.