Microsoft profit is strong, but forecast disappoints

shares closed more than 6% lower to $25.86. For its fourth quarter, which ended June 30, Microsoft earned $4.3 billion, or 46 cents a share. That was up from $3 billion, or 31 cents a share, for the corresponding period a year ago. Revenue rose 18% to $15.84 billion. Analysts polled by FactSet Research were looking for a profit, on average, of 47 cents a share and revenue of $15.6 billion. "The core business did well, but we were looking for a little bit more out of the Internet-advertising business and expenses were too high," said Andy Miedler, an Edward Jones... [read full story]