Software giant Microsoft posts 35 percent jump in profit in Q3

NEWS
Software giant Microsoft posts 35 percent jump in profit in Q3
Friday, April 23, 2010

••• Software giant Microsoft said on Thursday that its third-quarter net profit rose 35 percent to $4.01 billion, slightly better than expectations.

Microsoft said revenue hit a record $14.50 billion in the quarter which ended on March 31, up six percent over the same period a year ago.

‘Windows 7 continues to be a growth engine, but we also saw strong growth in other areas like Bing search, Xbox Live and our emerging cloud services,’ Microsoft chief financial officer Peter Klein said in a statement.

Microsoft said revenue from its Windows computer operating system was up 28 percent over a year ago, driven by strong demand for the latest version, Windows 7.

‘Business customers are beginning to refresh their desktops and the momentum of Windows 7 continues to be strong,’ chief operating officer Kevin Turner said.

Microsoft’s fiscal fourth-quarter revenue will meet or exceed PC market revenues, said Klein, driven by a full pipeline of product updates including Office 2010, SQL server and SharePoint 2010.”You’ll see a wave of product launches in the fourth quarter,” Klein said.”Our business will continue to grow stronger than the market.”
• Source(s): Microsoft Corporation