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Microsoft talks tough on Yahoo, reports 11 pct profit drop



By JESSICA MINTZ, AP
24 April 2008 @ 09:53 pm EST


Earns Microsoft
Bill Gates, chairman of Microsoft Corp., talks to the crowd of scientists as the keynote speaker for the seventh annual Institute for Systems Biology International Symposium in Seattle in this April 21, 2008, file photo. Microsoft Corp. is expected to report fiscal third-quarter earnings, Thursday, April 24, 2008. (AP Photo/Kevin P. Casey, File)
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MSFT 19.11 -0.76
YHOO 11.05 -0.45
GOOG 274.34 -5.09

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The company upped its fiscal fourth-quarter guidance to a profit of 45 cents to 48 cents per share, matching Wall Street's current view for 48 cents per share only in the best case.

The software maker forecast $15.5 billion to $15.8 billion in sales. Analysts are expecting revenue of $15.56 billion.

Microsoft also gave its first guidance for next fiscal year, which ends in June 2009. The company predicts a profit of $2.13 to $2.19 per share, on sales from $66.9 billion to $68.0 billion. Wall Street is currently looking for a profit of $2.10 per share on $66.52 billion in sales.

Copyright 2008 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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