How high will Microsoft fly? Message Board

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Technology Stocks : How high will Microsoft fly?

MSFT 486.94

+0.4%

1:59 PM EST

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To: Timetobuy who wrote (61730)	10/18/2001 6:49:34 PM
From: ThomasG	Read Replies (3) of 74651

Re: Guiding lower On the conf call Conners explained that 26c of lower FY02 guidance was due to investment income shortfall; - 20c just reported in this quarter - 6c from lower bond income (due to lower interest rates) and lower expected gains from expedia sale (from $950m to $650m) Add these back in to diluted eps = $1.87 to $1.92 This is only 1c-2c lower than June guidance Revenues are also projected to be roughly the same as last June guidance. The key point to note is that Microsoft are assuming FY02 PC sales to be as bad as they are now. So there is the potential for FY02 earnings upside if the economy recovers in the 1st or 2nd qtr next year. These results are actually pretty impressive given the weak economic climate and the fact that everybody will have delayed a pc purchase until after XP launch. There are not that many companies around that are still growing revenue in this tough environment. Thomas

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