January 25, 2013 in Business

Microsoft earnings decline but total revenue inches up

From Wire Reports

SAN FRANCISCO – Microsoft’s latest quarterly earnings slipped, even as the world’s largest software maker showed modest progress adjusting to a shift away from the personal computers that have been its financial foundation for decades.

The results announced Thursday are the first to include Windows 8. The program is a dramatic overhaul of the Microsoft Corp. operating system that powers most PCs. Windows 8 came out Oct. 26.

Although the Windows 8 sales haven’t been as impressive as investors hoped, revenue in Microsoft’s Windows division climbed 24 percent from the previous year.

Microsoft earned $6.4 billion, or 76 cents per share, during the final three months of the year. That was down 4 percent from $6.6 billion, or 78 cents per share, a year earlier.

The company’s total revenue rose 3 percent from last year to $21.5 billion.

Armstrong’s memoir lies prompt class-action lawsuit

SAN FRANCISCO – Rob Stutzman, an aide to former Gov. Arnold Schwarzenegger, and several others who bought Lance Armstrong’s “It’s Not About The Bike” and “Every Second Counts” have filed a class-action lawsuit in Sacramento federal court. It alleges Armstrong duped them into believing the books were inspirational true accounts of the cyclist’s accomplishments done without performance-enhancing drugs.

The lawsuit accuses Armstrong and the books’ publishers of committing fraud, false advertising and other wrongdoing for publishing the cyclist’s vehement denials that he wasn’t a cheat.

Burger King supplier dropped after horse DNA shows up

LONDON – British and Irish burger fans could face a Whopper shortage. Burger King has stopped buying beef from an Irish meat processor whose patties were found to contain traces of horse meat.

The fast food chain said Thursday it had dropped Silvercrest Foods as a supplier for its U.K. and Ireland restaurants as a “voluntary and precautionary measure.”

Last week Silvercrest, which is owned by ABP Food Group, shut down its production line and recalled 10 million burgers from supermarket shelves in Britain and Ireland after horse DNA was found in some beef products.

Burger King said the decision to drop the supplier “may mean that some of our products are temporarily unavailable.” It stressed that “this is not a food safety issue.”

Irish food officials say an ingredient imported from an unspecified European country and used as filler in cheap burgers is the likely source of the horse meat contamination.

Burger King says its patties are made from 100 percent beef.

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