Well, well. This has been a long time coming.

On Thursday, Microsoft set the wrong kind of record, as it reported the first year-over-year quarterly revenue decline since it first sold stock to the public in 1986. In its third quarter, which ended March 31, Microsoft said its revenue fell 6 percent, to $13.65 billion, from $14.45 billion. It reported net income of $2.98 billion, or 33 cents a share — a 32 percent drop from the $4.39 billion, or 47 cents a share, reported in the period last year….

Of course it’s not really a reflection on anything M$ is doing. It’s just that it’s so tied to the business PC market that it’s bound to be badly affected by the downturn. Nobody’s upgrading at the moment. And I guess lots of companies (and customers) are waiting for Windows 7.