Microsoft posts better-than-expected quarterly results

Microsoft Corp. on Friday reported drops of profit and revenue in the most recent quarter, which beat analysts' estimates and sent the company's shares up.

In the three months ended on Sept. 30, Microsoft's net income was 3.57 billion U.S. dollars or 40 cents per share, down 18 percent and 17 percent respectively from the year-ago quarter.

The company's revenue fell to 12.92 billion dollars in the quarter, a 14-percent decline from the same period a year earlier.

According to Thomson Reuters, analysts had expected profit of 32 cents per share on sales of 12.31 billion dollars.

While announcing the results, Microsoft said it deferred a higher-than-expected 1.47 billion dollars of revenue to future quarters related to upgrade program and pre-sales of Windows 7, the latest version of the software giant's flagship operating system which was launched worldwide Thursday.

Launches of Windows 7 and other products in October "are exciting milestones for Microsoft, our partners, and customers," Kevin Turner, the company's chief operating officer, said in a statement.

"We are pleased by the early positive response we are receiving for these products," he noted.

"We are very pleased with our performance this quarter and particularly by the strong consumer demand for Windows," said Chris Liddell, chief financial officer of Microsoft. "We also maintained our cost discipline, which allowed us to drive strong earnings performance despite continued tough overall economic conditions."

Microsoft shares closed at 28.02 dollars after climbing 5.38 percent Friday on the Nasdaq Stock Market.

Source: Xinhua