The software giant loses $8 billion in market cap after it disappoints Wall Street
July 21, 2005
Microsoft posted fourth-quarter profits that topped expectations, but the software giant’s stock fell Friday after the software giant lowered its guidance for the current quarter.
Excluding special items, the world’s No. 1 software maker posted earnings of $0.33 per share, while Wall Street had been expecting $0.31 per share, according to Thomson Financial’s survey of 30 analysts. Shares fell $0.76 to $25.68, erasing almost $8 billion in market value.
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