“Microsoft Corp., the world’s largest software maker, reported third-quarter profit that met analysts’ predictions as consumers shunned Windows personal computers in favor of tablets such as Apple Inc.’s iPad,” Dina Bass reports for Bloomberg.
“Net income in the fiscal period that ended in March rose to $5.23 billion, or 61 cents a share, from $4.01 billion, or 45 cents, Redmond, Washington-based Microsoft said in a statement today,” Bass reports. “Excluding a 5-cent per-share tax benefit, earnings matched the 56-cent average of estimates compiled by Bloomberg. Sales rose to $16.4 billion, compared with the $16.2 billion average projection.”
Bass reports, “Personal computer shipments unexpectedly fell 3.2 percent in the quarter as businesses and consumers held off purchases and shifted to tablet computers, IDC said.”
MacDailyNews Take: “Unexpectedly” only if you haven’t been paying attention.
Bass reports, “Microsoft’s multi- year contracts with corporations weren’t enough to make up for businesses that are holding onto machines for longer periods and consumers who are choosing iPads over a new laptop with Windows.”
Read more in the full article here.
MacDailyNews Take: In Apple’s fiscal 2011 second quarter ended March 26, 2011, the company posted record second quarter revenue of $24.67 billion and record second quarter net profit of $5.99 billion, or $6.40 per diluted share. The last time Apple produced more profit in a year than Microsoft was 1990, so if you felt a disturbance in the force today, now you know why.
Welcome to the rearview mirror, Microsoft!
Now, please excuse us while we bathe in luxurious schadenfreude.
[Thanks to MacDailyNews Reader “jetpuck04” for the heads up.]
Analyst: Apple on target for its first $100 billion revenue year – March 30, 2011