This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Microsoft, Chipotle: After-Hours Trading

Stocks in this article: MSFT CMG AMD MRVL RVBD

NEW YORK ( TheStreet) -- Shares of Microsoft (MSFT) were down in late trades after the Dow component reported a year-over-year decline in operating income for its fiscal first quarter, citing slow PC demand ahead of its Windows 8 launch.

On a non-GAAP basis, the Redmond, Wash.-based software giant reported earnings of 65 cents a share on revenue of $17.36 billion for the three months ended Sept. 30. Non-GAAP results include revenue deferred in relation to the company's Windows Upgrade Offer, Windows 8 Pre-sales, and its Office Offer.

On a GAAP basis, excluding this revenue, Microsoft earned $4.47 billion, or 53 cents a share, in the quarter on revenue of $16.01 billion. Operating income fell to $5.31 billion in the quarter from $7.20 billion last year.

The average estimate of analysts polled by Thomson Reuters was for a profit of 56 cents a share in the September-ended period on revenue of $16.42 billion.

"While enterprise revenue continued to grow and we managed our expenses, the slowdown in PC demand ahead of the Windows 8 launch resulted in a decline in operating income," said Peter Klein, the company's chief financial officer, in a in a statement. "Multi-year licensing revenue grew double-digits across Windows, Server & Tools, and Microsoft Business Division products as businesses commit to our technology roadmap."

Microsoft also reaffirmed an outlook for fiscal 2013 expenses of $30.3 billion to $30.9 billion.

Windows 8 is expected to be generally available on Oct. 26, and Microsoft CEO Steve Ballmer called the release "the beginning of a new era" at the company in his earnings commentary.

""Investments we've made over a number of years are now coming together to create a future of exceptional devices and services, with tremendous opportunity for our customers, developers, and partners," he added.

The stock was last quoted at $28.87, down 2.1%, on after-hours volume of 5.64 million, according to

Chipotle Mexican Grill (MSFT) was under heavy selling pressure after the restaurant operator reported below-consensus third-quarter results and said it sees flat to low single-digit same-store sales in 2013.

The Denver-based company posted earnings of $72.3 million, or $2.27 a share, for the September-ended quarter on revenue of $700.5 million, missing Wall Street's average view for a profit of $2.30 a share on revenue of $702.2 million.

The stock was last quoted at $256, off 10.5%, on volume of nearly 700,000.

Same-store sales rose 4.8% in the quarter, and general and administrative costs came in at 6.9% of revenue, an increase of 60 basis points from the same period a year earlier.

1 of 2

Select the service that is right for you!

Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 17,804.80 +26.65 0.15%
S&P 500 2,070.65 +9.42 0.46%
NASDAQ 4,765.38 +16.9840 0.36%

Brokerage Partners

Rates from

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs