Amy Hood, Microsoft’s newly appointed chief financial officer, is conducting her first earnings call right now — not exactly an easy debut, given the company’s big earnings miss this afternoon, and $900 million charge announced by the company as a result of “inventory adjustments” for its Surface RT tablet.
In her opening statement, Hood acknowledged that the company’s Windows business is struggling as overall PC shipments fall. Microsoft was pinning its hopes on Windows 8 and its tablet-friendly interface to become more competitive against the iPad and other rivals, but so far it hasn’t had the desired effect.
She added that Microsoft believes it is making progress, but “we know we have to do better,” which is the reason it introduced its massive reorg last week, reshaping its management structure in an attempt to make the company more nimble.
“We are confident we are moving in the right direction,” she said. The call is ongoing here, for anyone who wants to listen in. The Q&A with analysts should be interesting.
Hood said Microsoft will hold a meeting with analysts in late September in Redmond where the company will discuss its fiscal year outlook and any financial reporting changes as a result of the reorg.
Previously: Microsoft takes $900 million hit on weak Surface RT sales, misses earnings estimates
