Microsoft (NASDAQ:MSFT) announced that profit dropped by 22 percent in its most recent quarter due to revenue deferral from the sale of the upcoming Windows 8 operating system. Net income was $4.47 billion, or 53 cents per share, down from $5.7 billion, or 68 cents per share, in the same period last year. Analysts had expected earnings of 56 cents per share. Revenue fell by 8 percent to $16 billion, missing estimates of $16.5 billion.
Sales were also impacted by low PC demand, with chipmakers Intel (NASDAQ:INTC) and AMD (NYSE:AMD) experiencing weaker earnings and lowering outlook as consumers shift towards tablets.
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