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ComputerWorld: Microsoft CFO stuns Wall Street with lowered revenue outlook

Apr 21, 2000, 17:00 (8 Talkback[s])
(Other stories by Dominique Deckmyn)

"A Microsoft official, ending an unusually downbeat earnings call, voiced strong concern about corporate PC spending last night, setting off a chorus of concerns about the impact that might have on the stock market when it reopens for trading on Monday."

"In a conference call with reporters and analysts Thursday evening, Microsoft Chief Financial Officer John Connors said lower than expected sales of business PCs dampened the company's third-quarter revenue. Connors also had pessimistic words about ongoing business PC growth, while an analyst interviewed after the call wasn't much more optimistic."

"There is a level of saturation" of the business PC market, said Anne Bui, an analyst at Framingham, Mass.-based International Data Corp. (IDC). She pointed out that both IBM and Gateway Inc. reported declines in commercial PC sales for their latest quarters."

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