Microsoft reported a 7 percent drop in Windows revenue during its fiscal third quarter.
Microsoft’s stock plunged more than 8 percent Friday, a day after the company reported third quarter earnings that disappointed Wall Street analysts.
The company’s share price opened down about 7 percent, and by 7:20 a.m. had dropped to a nearly 9 percent decrease, or $50.81 per share.
Growth in the company’s cloud platform, on which Microsoft has pinned many of its goals, didn’t impress investors and analysts Thursday. And Microsoft’s core products didn’t help make up the slack.
PC shipments continue to fall, according to a research firm, and Microsoft reported that Windows revenue fell 7 percent during the quarter.
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Microsoft is not alone in facing a tough market for tech stocks. Shares of Alphabet, Google’s parent company, were down nearly 6 percent to $715.96 during trading on Friday after the company also reported earnings Thursday that missed analyst expectations.