Mighty Microsoft to miss sales targets
Five per cent under
Mighty Microsoft today cut earnings and revenue forecast for its fiscal second quarter by five to six per cent. It also lowered estimates for full fiscal 2001 by a similar amount.
Sales for the quarter ending 31 December are now forecast at between $6.4 billion and $6.5 billion. Full year revenue is expected to hit $25.2 billion to $25.5 billion.
"We believe, like many other technology companies, that the current weakness in worldwide economic conditions is resulting in a slowdown in PC sales, corporate IT spending, and consumer online services and advertising," said Microsoft CFO John Connors.
"However, while our short-term results will continue to be affected by the current economic environment, our long-term outlook on the information technology market and the PC industry remains positive."
Microsoft joins the likes of Intel, Compaq, Gateway, Apple, AMD, Micron Electronics etc. etc. etc., all shivering in the Great Winter 2000 PC Icestorm. ®