Microsoft Profit Misses Estimates Due to Higher Tax Rate
- CEO Nadella looks to Azure, Office to Make up for Slow PCs
- Without `catch-up' adjustment, would have beaten estimates
Microsoft Profit Misses Estimates on Weak PC Market
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Microsoft Corp. reported earnings that fell short of analysts’ estimates due to a higher tax rate in the quarter and a weak market for personal computers.
Profit excluding certain items was 62 cents a share, and sales adjusted for deferrals were $22.1 billion, in the fiscal third quarter, which ended March 31, Microsoft said in a statement Thursday. Analysts on average estimated profit would be 64 cents on revenue of $22.1 billion, according to data compiled by Bloomberg. Analysts’ estimates didn’t include the one-time tax.