65 Percent Jump in Profit
April 28, 2007 by Milo Riano
Filed under Computers
It looks good buying Microsoft Stocks given that their profits have soared to 65 percent — thanks to Microsoft Windows Vista which was speculated to be expensive and difficult to configure.
In an excerpt from Denver Post:
Microsoft said Thursday it earned $4.93 billion, or 50 cents per share, for the quarter ended March 31, from $2.98 billion, or 29 cents per share, in same period last year.
Excluding one-time items, profit totaled 49 cents per share, ahead of Wall Street’s view for 46 cents per share, according to Thomson Financial.
Shares rose $1.02, or 3.5 percent, to close at $30.12 on the Nasdaq Stock Market. The results were released after the market closed Thursday.
Revenue for the fiscal third quarter rose 32 percent to $14.4 billion. Analysts were looking for $13.89 billion in sales.
Microsoft started selling its newest operating system, Windows Vista, to consumers at the end of January. Sarah Friar, an analyst at Goldman Sachs, said Microsoft watchers were worried adoption would be slow.
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