Microsoft has announced that it would not hit the expected earnings projected for the third quarter of fiscal year 2020 in the personal computing segment (sales of Windows licenses and Surface devices) due to the outbreak of coronavirus. Other divisions of the company are not likely to be affected.
“Although we see strong Windows demand in line with our expectations, the supply chain is returning to normal operations at a slower pace than anticipated at the time of our Q2 earnings call.”, reads the press release. “As a result, for the third quarter of 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.”
Notably, the Redmond giant issued quarterly revenue guidance for its personal computing segment between $10.75 and $11.15 billion last month for the second quarter of the fiscal year. The company recorded a revenue of $36.9 billion along with $11.6 net income.
Microsoft has taken several preventive measures to ensure the safety and health of its employees. The company said that it is working closely with global health authorities to provide donations and relief measures.
In case you’re wondering, Microsoft is not the only major tech company affected by coronavirus. Last week, Apple did a similar announcement stating that it would miss the revenue forecast as demand for its products within China got affected.
As per the data provided by the interactive map developed by researchers at Johns Hopkins University’s Center for Systems Science and Engineering, there are over 82,164 confirmed cases of coronavirus that led to 2,801 deaths so far.
from Beebom https://beebom.com/microsoft-revenue-forecast-coronavirus/
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