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Microsoft's profit better than expected - forecast falls short

Posted on Thursday, October 23 2008 @ 22:55:08 CEST by

Microsoft unveiled a fiscal first-quarter profit of $4.37 billion, or 48 cents per share, on a revenue of $15.06 billion. Net income increased 2 cents per share compared to the same period a year earlier, while revenue rose 9%. Microsoft did better than what analysts had expected but the forecast is somewhat disappointing:
Analysts on average had estimated Microsoft would post earnings of 47 cents a share for the quarter, and $14.8 billion in revenue, according to FactSet Research.

"In a challenging economic environment, the first-quarter results exhibit the strength and diversity of our business model," Microsoft Chief Financial Officer Chris Liddell said in a statement.


For its current quarter ending in December, Microsoft said it expects earnings between 51 cents and 53 cents a share, and between $17.3 billion and $17.8 billion in revenue. Analysts have been estimating the company would post earnings of 55 cents a share in the period and $17.9 billion in revenue.

For the full year, Microsoft said it expects earnings between $2 and $2.10 a share, and revenue between $64.9 billion and $66.4 billion. Analysts have been estimating the company would report earnings of $2.12 a share and $66.6 billion in revenue for the year, according to FactSet.
More info at MarketWatch. Microsoft's shares are up 1.79 percent in after-hours trading.



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