IT services company, Annitel Group (ASX:AYG), has revised its earnings before interest, taxes, depreciation, and amortisation (EBITDA) figure for the 2010/11 financial year and is now projecting an increased loss of $1.9 million on revenue of $59.5 million.

The telco previously expected to garner earnings before tax to the sum of $15 million to $17 million for its first half financial year period ending 31 December 2010.

Microsoft reported revenue that was down 14 percent year-on-year for its first fiscal quarter, with net income down 17 percent - but it still beat analyst expectations on both counts.

On the same day it appeared to have missed its chance to buy Sun Microsystems, IBM reported that revenue for the first quarter dropped 11 percent from a year earlier and had fallen short of analyst expectations.