Microsoft, deep in a transition to cloud computing, late Tuesday reported better-than-expected earnings for its fiscal Q4, but year-over-year revenue fell for only the second quarter in at least four years. Microsoft’s (MSFT) sales of $22.2 billion for the quarter ended June 30 fell 5% but still edged Wall Street’s consensus estimate of $22 billion. Microsoft said that its revenue would have fallen 2% excluding the impact of foreign currency
Verizon Communications’ wireless and landline businesses showed weakness in Q2, sending the telecom firm’s stock down 2.4% Tuesday. Verizon (VZ) also lowered its full-year consolidated revenue forecast to 3% growth from its earlier guidance of 4%, amid intensified wireless competition with AT&T (T), T-Mobile (TMUS) and Sprint (S). A wireless price war has taken a toll industrywide on average monthly revenue per account, or ARPA, a closely watched
IBM late Monday posted a mixed Q2 similar to Q1, as earnings per share minus items beat Wall Street expectations, but revenue missed. Big Blue posted Q2 earnings per share minus items of $3.84, down 13% from Q2 2014. Revenue from continuing operations also fell 13%, to $20.8 billion, the 13th straight quarter of year-over-year declines and the biggest percentage decline in that span. Analysts polled by Thomson Reuters had expected EPS ex items of