Microsoft Stock Down 10% - Xbox 360 Sales Goal Up

Posted: Apr 28 2006, 10:23am CDT | by , Updated: Aug 10 2010, 5:31pm CDT, in News | Other Stuff

Microsoft Stock Down 10% - Xbox 360 Sales Goal Up
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Microsoft's shares takes biggest hit since 2000, dropping 10% in today's trading.

Microsft reported Q3 profits that missed Wall Street expectations and the company lowered its earnings guidance.
Looks like the analysts thought that Microsoft will make more revenue when the new Vista and Office products hit the market then Microsoft is expecting.

The Microsoft Home and Entertainment division which includes the Xbox had a loss of 388 million USD.
Microsoft says that they have shipped 3.2 million Xbox 360 consoles already and expect now to hit 5 to 5.5 million consoles by June.
Microsoft's former goal was 4.5-5 million. Microsoft's Steve Ballmer said the other day at an event in London that Innovation is key to Microsoft success, that is why investment in R&D is up again.
More details on Market Watch and on Gamesindustry.

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<a href="/latest_stories/all/all/2" rel="author">Luigi Lugmayr</a>
Manfred "Luigi" Lugmayr () is the founding Chief Editor of I4U News and brings over 25 years experience in the technology field to the ever evolving and exciting world of gadgets, tech and online shopping. He started I4U News back in 2000 and evolved it into vibrant technology news and tech and toy shopping hub.
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