Tech giant reports a 17% jump in profit
Reuters
Seattle: Microsoft Corp cruised past Wall Street's quarterly profit and revenue forecasts on Thursday, helped by strong sales of its Office and server software to businesses, sending its shares up 6 per cent after hours.
As part of its reinvention as a "devices and services" company, Microsoft now reports under two main groups, one covering its devices and consumer business, and one its commercial business.
The commercial side was the stronger in the quarter, posting a 10 per cent increase in revenue, chiefly from selling Office and server software to businesses. The consumer and hardware group's revenue rose 4 per cent.
For the fiscal first quarter, Microsoft posted a 17 per cent increase in profit to $5.2 billion, or 62 cents per share, up from $4.5 billion, or 53 cents per share, in the year-ago quarter.
That topped Wall Street's average forecast of 54 cents, according to Thomson Reuters I/B/E/S.
Revenue rose 16 percent to $18.5 billion, helped by rising sales of its Office software. Analysts had expected $17.8 billion, on average.
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