WESTCHESTER COUNTY, N.Y. (TheStreet) -- None should be feeling exhilaration over Microsoft's ( MSFT) earnings, released yesterday. They essentially met expectations. No one in their right mind should get giddy.

That said, the business media was too brusque in their coverage, with most--for a typical reason--failing to mention a considerable and undeniable positive.

Here's the deal: Microsoft's business division saw an 8% increase in revenues. That's not chicken feed. But it was--and this is key--especially gratifying to the company, considering the difficult year-over-year comparisons. In last year's first quarter, Microsoft introduced a new version of Microsoft Office. Many business customers waited to buy in that first quarter, pumping up the numbers. This year, Microsoft beat those pumped up numbers by a nice length.

Barron's ( NWS) did well to mention this near the start of its article. The Wall Street Journal, by sad contrast, broke out business division performance, but failed to mention the apt comparison. The Associated Press did not even mention the business division, despite giving Microsoft's earnings plenty of consideration. The AP spent a lot of time ruminating on the company's well-known challenges.

Microsoft's challenge to retain relevancy in this face of a transforming computer landscape is legitimate. But the business media, so tethered to the here and now, are loathe--or too lazy--to look back for perspective.
At the time of publication, Fuchs had no positions in any of the stocks mentioned in this column.

Marek Fuchs was a stockbroker for Shearson Lehman Brothers and a money manager before becoming a journalist who wrote The New York Times' "County Lines" column for six years. He also did back-up beat coverage of The New York Knicks for the paper's Sports section for two seasons and covered other professional and collegiate sports. He has contributed frequently to many of the Times' other sections, including National, Metro, Escapes, Style, Real Estate, Arts & Leisure, Travel, Money & Business, Circuits and the Op-Ed Page.

For his "Business Press Maven" column on how business and finance are covered by the media, Fuchs was named best business journalist critic in the nation by the Talking Biz website at The University of North Carolina School of Journalism and Mass Communication. Fuchs is a frequent speaker on the business media, in venues ranging from National Public Radio to the annual conference of the Society of American Business Editors and Writers.

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