Microsoft reported a rise in quarterly profit on Thursday, boosted by strong sales of its Windows operating system, and the company raised its full-year profit outlook, sending its shares up 4 percent,” Daisuke Wakabayashi reports for Reuters.
“Net profit in its fiscal second quarter rose to $4.7 billion, or 50 cents per diluted share, from $2.6 billion, or 26 cents per diluted share, in the year-ago period. Revenue rose 30 percent to $16.37 billion,” Wakabayashi reports. “Analysts, on average, had forecast Microsoft to earn 46 cents per share on revenue of $15.94 billion, according to Reuters Estimates.”
“The second-quarter revenue and profit growth rates are exaggerated by results in the year-ago period when Microsoft deferred more than $1 billion in net income due to delays in releasing Windows Vista and Office 2007, which hit stores in early 2007,” Wakabayashi reports.
“For the fiscal year ending in June, Microsoft lifted its outlook. It now expects earnings per share to range between $1.85 and $1.88 per share, up from its previous estimate of $1.78 to $1.81,” Wakabayashi reports.
“Microsoft’s results and raised forecasts come on the heels of disappointing outlooks from technology bellwethers Intel Corp. and Apple Inc., which sent shivers through an already jittery stock market,” Wakabayashi reports.
“For the current quarter, Microsoft said earnings per share would range between 43 cents and 45 cents per share on revenue ranging from $14.3 billion to $14.6 billion,” Wakabayashi reports. “Wall Street analysts, on average, are predicting Microsoft will earn 44 cents a share in the March quarter on revenue of $14.4 billion, according to Reuters Estimates.”
“In after-hours trade, Microsoft shares rose to $34.60, after closing up 4 percent in regular Nasdaq trade at $33.25, ” Wakabayashi reports.
Full article here.
MacDailyNews Note: 5:30pm EST: In After-hours trading, Apple (AAPL) is up $1.98, or 1.46% to $137.58.