US software giant Microsoft saw a third-quarter drop in profits, due in part to more than $1 billion in investment losses, the company said last night. Microsoft employs 2,000 people at its Dublin operations.
Microsoft's net income for the third quarter was $1.29 billion, down 42% from $2.2 billion for the same period last year. The company reported revenues of $6.13 billion for the quarter, up from $5.77 billion from last year.
The company said in a statement that 'this is a period of unprecedented global uncertainty that could have an impact on the economy and our business.'
Microsoft predicted it would have revenues ranging from $7.1 to $7.3 billion, based in part on the upcoming sales of its new Windows XP operating system and its Xbox home video game machines. XP is due out October 25. Xbox is slated for November 15 launch to take advantage of the coming holiday shopping season.
Like many other companies, Microsoft cautioned that its financial predictions could be adversely affected by 'the effects of terrorist activity and armed conflict.'
