Software giant Microsoft reported quarterly earnings for its quarter ending March 31. While it was in line more or less with Wall Street expectations, shares plunged in after hours trading late Thursday by over 5%.

In part, growth of revenue has become almost non-existent making investors unimpressed. The company issued a poor guidance as well for the ongoing quarter and made a tax adjustment that hit its earnings.

Non-GAAP earnings per share were 62 cents versus the expected 64 cents, while GAAP earnings per share were 47 cents.

Non-GAAP Revenue for the quarter reached $22.1 billion versus the expected $22.09 billion. GAAP revenue ended the quarter at $20.5 billion.

During its earnings call, the company issued guidance for revenue for the upcoming quarter of between $21.7 billion and $22.4 billion, which was below the $23.1 billion Wall Street had expected.

That helped to send the stock down further during afterhours trading.

Earnings during this quarter were also affected by an adjustment in taxes to account for an annual tax rate that was higher than had been anticipated due to the changing geographic mix in the sales for Microsoft.

Without that tax adjustment, EPS would be higher by 4 cents, which would have beat expectations.

The difference between the GAAP and the non-GAAP is $1.5 billion in revenue that is deferred from sales of Windows 10.

Microsoft has moved revenue often times from sales during the quarter into future quarters in order to cover any unanticipated costs like support.

None of the three product lines at Microsoft showed much growth from the same period last year.

One reason Microsoft said revenue was down in its More Personal Computing was due to a drop in revenue for patent licensing of 26%.

That is due to the Android market shifting to phones that are lower cost form makers that do not have an agreement with Microsoft.

Microsoft licenses its patents to large handset makers of Android such as Samsung to book over $2 billion per year from the business.