Microsoft blames economic woes for missing profit targets

Microsoft on Tuesday reported fiscal fourth-quarter profit of $16.7 billion, or $2.23 per share, falling short of analyst expectations for $2.29 per share – a rare disappointment from the tech giant that has consistently beat Wall Street expectations in recent years.

It posted revenue of $51.9 billion in the April-June period, up 12% from last year. Analysts had been looking for revenue of $52.94 billion, according to FactSet.