Microsoft up 51%
October 29, 2010
Microsoft has announced a 51 per cent rise in first-quarter profit on higher sales of its Windows and Office software. Net profit for the three months to September came in at $5.4 billion. Revenues increased by 25 per cent to $16.2 billion – a record for the first quarter.
Microsoft said that in the same quarter last year it had deferred some revenue from Windows sales. Had it not done so, its net profit would have been only 16 per cent higher in comparison.
Windows sales rose 66 per cent on a year earlier to $4.8 billion, while Office and other business software brought in $5.1 billion, a 14 per cent increase on last year.
Microsoft stock has fallen 14 per cent so far this year as investors worry about its ability to adapt to new ways of computing.