Software giant Microsoft has seen profits slide by 11% in the third quarter as sales of MS Office fall in the face of the gloomy economic outlook.
Shares fell 5% on the news and weren’t helped by continued uncertainty around MS’s bid for Yahoo!. The bid price is already seen as high and the attempted acquisition may yet descend into a hostile bid. This confirms its committed ambitions to move into the online advertising sector.
One big dent in profits was the $1.62bn fine for breach of EU competition rules.
Gaming products continue 68% year on year growth, strongly supported by Xbox 360.
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