Microsoft profit 11% up - despite Xbox 360 problems

Posted on Friday, Jul 20 2007 @ 15:38 CEST by Thomas De Maesschalck
Microsoft reported a second quarter profit of $3.03 billion, 11 percent more than in the same period last year.
The world's biggest software company, which closed out its fourth fiscal quarter, said profits were dented by a reserve to repair or replace flawed Xbox gaming consoles, subtracting US$749 million from net profit.

Revenues for the three months to June 30 increased 13 percent to US$13.37 billion.

The increase was fueled by the introduction earlier this year of Vista, the latest version of the Windows system used on an overwhelming majority of personal computers worldwide, and the 2007 Microsoft Office software package for word processing and other functions.

Excluding special items, the profit amounted to 39 cents per share, in line with Wall Street forecasts.
Source: NineMSN

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Thomas De Maesschalck

Thomas has been messing with computer since early childhood and firmly believes the Internet is the best thing since sliced bread. Enjoys playing with new tech, is fascinated by science, and passionate about financial markets. When not behind a computer, he can be found with running shoes on or lifting heavy weights in the weight room.

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