Microsoft reported a first quarter net income of $4.3 billion. Revenues were $15.84 billion, up 18 percent over the same quarter last year. Not good enough for Wall Street, which pitched the stock price down 5 percent in off-hours trading after learning that Microsoft expects $14.7 billion to $14.9 billion in revenues during the third quarter, not matching the street's hopes for $15.04 billion. Microsoft blamed hiring and investments in online, though its business apps business was the real stinker last quarter, growing less than Wall Street expected it would [WSJ]

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