Ballmer refuses to quit, leaks massive profits in the process
Microsoft?s CEO Steve Ballmer is a galvanizing figure, that cannot be denied. Whether he is a good CEO has been an open question as of late, as calls for him to step down have mounted.
Today, at a Seattle Rotary Club lunch, Ballmer refused to quit, and told the crowd that: ?You tell me if I have the energy, conviction, passion ? or drive.? He went on to say that if you ?cut me open and saw what was inside [it would be]: Windows. Windows. Windows. Windows.?
But that was expected, as there has been no noise at all that Ballmer has been contemplating stepping down.
Perhaps even more importantly, Ballmer seemed to release, early, Microsoft?s earnings for the year. And the numbers were big:
?The products [that] we have are the difference makers. They?re the reason we will make more than $70 billion this year and, give or take, $26 to $27 billion in profits.?
If those numbers hold up, that would represent a profit increase in the billions of dollars for the company, a stunning amount. Assuming that Ballmer was referring to operating income, and we can?t see this figure being anything else, then Microsoft will earn 2 to 3 billion more than last year. The company pulled in $62.48 billion in revenue the year prior.
Microsoft?s stock is trading at a PE ratio of roughly ten at the moment, indicating that the market has little regard for the company?s growth prospects. Over the past few days, the stock has risen, without clear expectation. It could be that these numbers had begun to percolate among traders early, and were the cause of the stock price increase.
And finally, if Ballmer?s stated revenue and profit numbers hold up, then the heat might be removed from his chair, at least for now.
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