2/26, 10:28 PM (Source: TeleTrader)
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Microsoft says it may not meet quarterly guidance

Microsoft said on Wednesday it probably will not meet the quarterly revenue guidance. In an official statement, the company said that on January 29, as part of its second quarter of the fiscal year 2020 earnings call, the company issued quarterly revenue guidance for the More Personal Computing segment between $10.75 and $11.15 billion.

Because of closely monitoring the impact of the COVID-19 health emergency, the company announced that "for the third quarter of the fiscal year 2020, we do not expect to meet our More Personal Computing segment guidance as Windows OEM and Surface are more negatively impacted than previously anticipated. All other components of our Q3 guidance remain unchanged."

Earlier today, the company said that it is increasingly shifting production from China to countries in Southeast Asia as the coronavirus outbreak shows no signs of abating. The company's stock fell 0.86% in after-hours trading after the announcement.

Breaking the News / TF