Windows OEM revenue (65% of division sales) is expected to show a "mid-teens" adjusted Y/Y drop...
Windows OEM revenue (65% of division sales) is expected to show a "mid-teens" adjusted Y/Y drop in FQ1, Microsoft (MSFT) states on its FQ4 CC. OEM sales fell 15% in FQ4, as a 20%+ drop in consumer sales and pricing "incentives" offset healthy enterprise demand. CFO Amy Hood says Microsoft is still looking at ways to adjust Windows pricing, including for smaller devices. Server & Tools is expected to grow in the high-single-digits again. The Office division's business sales (85% of total) are seen growing in the mid-single-digits; consumer sales will be soft. Entertainment & Devices is seen declining in the low-single-digits ahead of the Xbox One launch. Capex is expected to keep growing thanks to Azure investments. Shares -6.4% AH. (FQ4: I, II) (slides - .ppt) (prepared remarks - .doc)
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