Microsoft Corp. has reported falling revenues and a 29% decline in quarterly profits. It was a bad quarter for Microsoft. At least one analyst said Microsoft needs to explain where the missing revenue went. Microsoft blamed its sales woes on the "weakness in the global PC and server markets."
Microsoft shares lost as much 8% in late trading after rising 76 cents, or 3.1%, to $25.56 in regular trading.
Earnings fell across all of its business segments, including a 33% decline in its Client division, which makes Windows operating system software.
"They were really light on revenue," said Kim Caughey, senior analyst at Fort Pitt Capital Group. "They need to explain where the money went. If I was Nancy Drew, this would be the case of the missing revenue."
Microsoft's Windows 7 operating system software comes out in October and should give the company a revenue boost.
Microsoft Corp. has 
