News Summary: Microsoft 4Q results disappoint

MICROSOFT MISS: Microsoft reported fourth-quarter earnings of an adjusted 66 cents per share on $19.90 billion in revenue, well short of the 75 cents and $20.72 billion expected by analysts.

SURFACE CHARGE: The company booked a $900 million charge to cover the steep price cut on its Surface RT tablets, which it announced Sunday. The price cut is aimed at boosting dismal sales. Microsoft holds only a 2 percent share of the global tablet market.

SLOW TRANSITION: Microsoft is transitioning away from being a software maker to one that makes devices and provides software services. CFO Amy Hood stressed Thursday that the transition will take time.