Software giant’s stock drops on quarterly earnings report

Wednesday, Jan. 19, 2000 | 10:50 a.m.

THE ASSOCIATED PRESS

REDMOND, Wash. -- Microsoft Corp. shares dropped sharply this morning after the software giant reported slowing growth in sales of its flagship Windows operating program and partly tied stronger profits to a big increase in investment income.

Microsoft said late Tuesday that profits in the latest quarter rose 22 percent to $2.44 billion, or 44 cents per share, edging expectations for a 42 cents-a-share profit, according to First Call/Thomson Financial. The profit was up from $1.98 billion, or 36 cents a share a year ago.

But Microsoft stock was down 6 percent, or $6.375, at $108.94 in morning trading on the Nasdaq Stock Market.

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