Microsoft Corp. reported revenue of US$11.8 billion for its fourth quarter, up 16 percent from the same period last year and above Wall Street's expectations. Net income for the quarter, which ended June 30, fell 24 percent from the year-earlier level to $2.83 billion. However, excluding legal charges, the software vendor topped the forecasts of financial analysts on operating income in addition to revenue.

Dell to fall short On profits and sales

Dell Inc. warned that profits for its second quarter, which ends this month, are likely to be about one-third lower than expected because of pricing pressures. Dell also said it will fall short of its revenue target for the quarter, but by a smaller percentage. Revenue is expected to total about $14 billion, compared with earlier forecasts of $14.2 billion. Dell, which had a weaker-than-expected first quarter, will report the second-quarter numbers on Aug. 17.

IBM posts higher income in quarter

Despite problems in its server and services units, IBM reported a $2 billion profit for the second quarter, up from $1.9 billion in the same period a year ago. Revenue fell 2 percent from last year's level to $21.9 billion. IBM said that some server orders couldn't be fulfilled and that contracts for short-term services were lower than expected. But the company's software, microelectronics and mainframe businesses all had strong performances.