Apple had a massive quarter, beating its own internal estimates, and yet still saw its stock slide following yesterday’s earnings call.
You know who had it much, much worse, though? One-time rival Microsoft, which reported its highest-ever net loss for the quarter after writing off billions for the failure of its Nokia handset division, and witnessing plummeting demand for PCs.
Microsoft announced its net loss of $3.2bn alongside revenues of $22.18bn, representing a 5 percent decline versus the previous quarter. Revenue rose by $6.7 billion to $93.5 billion for the full year, although net profit fell to $12.2 billion.
Earlier this month, Microsoft announced plans to write off $7.6bn for its Nokia experiment, which represented a botched attempt to catch up with Apple and Google in the smartphone stakes. The company also announced the cutting of 7,800 jobs, mainly among Nokia’s Finland-based staff.
More than ever, Microsoft’s got to be pinning its hopes on Windows 10, which arrives July 29.
Source: Telegraph
