Good News on Microsoft Earnings: Xbox Sales Tanking

Sometimes the good news is the bad news. Or vice versa.

Consider, for instance, today’s call on Microsoft (MSFT) by Caris & Co. analyst Curtis Shauger.

In a research note today, Shauger warned that weakening Xbox sales were likely to hurt top-line results for both the fiscal first quarter ending September and for the June 2010 fiscal year. Shauger trimmed his Q1 revenue forecast to $12.3 billion from $12.8 billion; for the full year he goes to $59.1 billion from $59.9 billion. The cuts specifically reflect lower expectations for Xbox 360 sales, which he says are getting hit by a combination of Microsoft’s price cuts on the consoles, weaker end demand and competitive pricing moves by Sony (SNE) on the Playstation 3.

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