Microsoft has blamed the slowdown in its enterprise business for missing its Q3 profit targets. The company generated revenues of $7.25 billion for the quarter ended March 31, 2002, a 13% increase over the $6.40 billion reported in the prior year. Net income for the quarter was $2.74 billion.
For the full fiscal year ending June 30, 2003, Microsoft now expects revenues to be in the range of $31.5 billion and $32.4 billion. Operating income is expected to be in the range of $13.3 and $13.6 billion.