Microsoft shares tumble after weak 4Q results - Economic Times

NEW YORK: Microsoft's stock is taking a hit after the software giant behind Windows, the Xbox and Surface tablets reported disappointing results for the latest quarter. The results, which fell below Wall Street's expectations, included a large write-off for Microsoft Corp.'s surface RT business. A poor reception for Windows 8 contributed to a revenue drop in the company's operating system software unit. Microsoft's stock is down nearly 11 percent to $31.59 in midday trading. The stock is still up about 18 percent year-to-date. Microsoft announced a major reorganization late week, aimed at helping it transform into a ``devices and services'' company that is less reliant on providing software for personal computers. The earnings miss raised new questions as to whether the transition will succeed. Copyright © 2013 Times Internet Limited. All rights reserved. via Technology - Google News http://news.google.com/news/url?sa=t&fd=R&usg=AFQjCNG96UKQVpmqH9d2LrWD3RzkYyPHKQ&url=http://economictimes.indiatimes.com/markets/global-markets/microsoft-shares-tumble-after-weak-4q-results/articleshow/21170743.cms

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