San Francisco: Microsoft on Wednesday lowered its revenue estimates for the current quarter, saying it will feel the impact of the coronavirus epidemic with lower sales of Windows software and Surface devices.
The US tech giant became the latest global firm to warn of a financial hit from the global outbreak of the disease which has killed thousands worldwide.
"Although we see strong Windows demand in line with our expectations, the supply chain is returning to normal operations at a slower pace than anticipated," Microsoft said in a statement.
As a result, Microsoft said that in the current fiscal quarter its revenues will fall short of earlier forecasts, with Windows and Surface "more negatively impacted than previously anticipated."
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Earlier this month, the US tech giant Apple has also said that it will miss its revenue forecast for the March quarter due to the coronavirus epidemic. The company also warned that iPhone supplies worldwide would also be impacted, underlining the economic cost of the health crisis.
"We are experiencing a slower return to normal conditions than we had anticipated," Apple said in a statement.
"As a result, we do not expect to meet the revenue guidance we provided for the March quarter." Apple had forecast revenue of $63 billion to $67 billion for the second quarter to March.
It said that worldwide iPhone supply would be "temporarily constrained" as its manufacturing partners in China were only slowly ramping up work after being closed due to the virus.
(PTI Report)
