Microsoft S Fourth Quarter Unravels Surface Rt Bet A Flop
Microsoft’s fourth-quarter earnings and sales missed expectations by a wide margin as the PC market slowdown and a write-down of Surface RT inventory painted a bleak picture. The company reported fourth-quarter earnings of $4.97 billion, or 59 cents a share, on revenue of $19.9 billion. The results include a $900 million inventory write-down for Surface RT that amounts to 7 cents a share. Wall Street was expecting Microsoft to report fourth-quarter earnings of 75 cents a share on revenue of $20....