Microsoft earnings dip as PC sales slip

New York Microsoft (MSFT) says its net income fell 22 percent in the latest quarter as shoppers held off for Windows 8, which launches next week.

The software company's net income was $4.47 billion, or 53 cents per share. That was down 22 percent from $5.7 billion, or 68 cents per share, a year ago.

Revenue fell 8 percent to $16 billion. The figures exclude some revenue for Windows 8 and the new version of Office that was deferred. Excluding those deferrals and other adjustments, net income was 65 cents per share, and revenue was flat with last year's figure at $17.3 billion.

The company attributed the sales decline to weakening consumer demand for personal computers.

"While enterprise revenue continued to grow and we managed our expenses, the slowdown in PC demand ahead of the Windows 8 launch resulted in a decline in operating income," said Microsoft Chief Financial Officer Peter Klein in a statement.


Watch CBSN Live

Watch CBS News anytime, anywhere with the new 24/7 digital news network. Stream CBSN live or on demand for FREE on your TV, computer, tablet, or smartphone.

Watch Now

New Android App

For your Android phone and tablet, download the FREE redesigned app, featuring CBSN, live 24/7 news.

The all new
CBS News App for Android® for iPad® for iPhone®
Fully redesigned. Featuring CBSN, 24/7 live news. Get the App