International Business Machines Corp. Chief Executive Officer Ginni Rometty, facing more skeptical investors after the company missed quarterly earnings estimates for the first time in eight years, said she remains confident about reaching long-term profit goals.
Microsoft Corp. tumbled the most in more than a year after Goldman Sachs Group Inc. said the software maker is struggling with slack personal-computer sales and its push into consumer devices has failed to gain traction.
Microsoft Corp. has sold about 1.5 million Surface devices, people with knowledge of the company’s sales said, a slow start in its bid to crack the fast-growing tablet market to make up for slumping personal-computer demand.
Nvidia Corp. Chief Executive Officer Jen-Hsun Huang said he’s disappointed with sales of tablets running Microsoft Corp.’s Windows RT software, including those with processors from the graphics-chip maker.
Oracle Corp. reported fiscal first- quarter revenue that missed analysts’ estimates as sales of computer hardware fell for a sixth straight period, curbing growth as it navigates a shift to cloud-computing services.
Dell Inc. is targeting annual software sales of $5 billion in the coming years, more than triple current levels, as it expands beyond computer hardware, said John Swainson, president of the software division.