SAN FRANCISCO -- If you had attended Microsoft's (MSFT) - Get Report presentation Monday at Banc of America Securities Investment Conference here, you never would've known the company was surrounded by rumors that it may issue an earnings warning.
Instead, Microsoft CFO John Connors drew a peachy picture of the software giant's prospects. He said to look for continued expansion in consumer and business services, which grew more than 60% to $1 billion in fiscal 2000. Connors also touted the company's enterprise platforms and servers, which he said would be a growth catalyst over the next 24 months.
In addition, the cheery CFO repeatedly mentioned Microsoft's $23 billion in revenue and $10 billion in operating income for the 12 months ended June 30. In short, there was no talk at all about what might occur in the company's meeting with analysts Monday, even though investors were pushing the stock down over concerns that Microsoft might announce a shortfall. It finished off $1.19, or 1.9%, at $63 a share.
Ironically, Connors ended his presentation by thanking investors "for their confidence to be patient investing in Microsoft's vision."