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Technology sector under pressure

July 19, 2013

Microsoft suffered from weak personal computer sales and fierce competition in the tablet business. Google joined the list of technology firms that disappointed expectations. Microsoft said sales increased 10% to $19.9bn, only slightly missing the analysts’ consensus of $20.7bn, but earnings per share of 59 cents clearly missed market expectations of 75 cents. Microsoft’s shares fell as much as 6% in after-hours trading. 

At Google, sales increased to $14.11bn (+19%), but remained below the median forecast of $14.46bn. Earnings of $9.56 per share, clearly missed the consensus of $10.78. Although Google showed a better development than Yahoo!, a shift to mobile  curbs average advertising prices and higher costs at mobile daughter Motorola. The shares fell as much as 5.7% in extended trading.