Microsoft Corp.'s (MSFT) Profit Rises 7 Percent
Microsoft Corp.'s fiscal fourth-quarter profit rose 7 percent despite a hefty charge to cover the cost of defective Xbox 360 video game consoles.
The world's largest software maker said Thursday its earnings for the three months ended June 30 climbed to $3.04 billion, or 31 cents per share, from $2.83 billion, or 28 cents per share, during the same period last year.
Results were hurt by a charge of $1.06 billion, or 8 cents per share, related to game console repairs.
In early July, Microsoft extended the Xbox 360's warranty to three years after too many succumbed to "general hardware failure." The company said it has fixed manufacturing problems but would not say what caused console deaths.
Excluding this charge, Microsoft earned 39 cents per share, in line with analysts' expectations, according to Thomson Financial.
Total revenue grew 13 percent to $13.37 billion from $11.80 billion last year, just ahead of Wall Street's estimate of $13.27 billion.
Revenue from server and tools software rose 15 percent to $3.08 billion, and in the division that sells Office, revenue jumped 19 percent to $4.63 billion.
The world's largest software maker said Thursday its earnings for the three months ended June 30 climbed to $3.04 billion, or 31 cents per share, from $2.83 billion, or 28 cents per share, during the same period last year.
Results were hurt by a charge of $1.06 billion, or 8 cents per share, related to game console repairs.
In early July, Microsoft extended the Xbox 360's warranty to three years after too many succumbed to "general hardware failure." The company said it has fixed manufacturing problems but would not say what caused console deaths.
Excluding this charge, Microsoft earned 39 cents per share, in line with analysts' expectations, according to Thomson Financial.
Total revenue grew 13 percent to $13.37 billion from $11.80 billion last year, just ahead of Wall Street's estimate of $13.27 billion.
Revenue from server and tools software rose 15 percent to $3.08 billion, and in the division that sells Office, revenue jumped 19 percent to $4.63 billion.
Labels: Microsoft Corp., MSFT
posted by Stock Administrator @ 10:15 PM
0 Comments:
Post a Comment
<< Home