Microsoft’s best news? no layoff news…yet
ADOTAS — Microsoft’s online advertising revenue plunged 16 percent in the third quarter.
Much like Yahoo, the biggest problem was the weakness of its display advertisinng, though it saw growth in page views and search. Overall revenue at its online services, which includes MSN and search advertising, was down 14 percent to $721 million. It recorded an operating loss of $575 million.
Microsoft said its new, much rumored about and snarked about, search engine will launch this summer and will be one of the many products the company will be rolling out.
The company predicts a “long and gradual” recovery, though quarterly revenue fell 6 percent in its fiscal third quarter to $13.65 billion from the year-earlier quarter. Profit also took a hit, down 32 percent to $2.98 billion and 33 cents per share.
No further layoffs were announced, despite rumors that they might be.
Here’s a Silicon Alley video, showing Microsoft’s ad plans.
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