Microsoft had to pay out over a billion dollars from challenges with the Xbox 360 game consoles. But even with that they still were up for the quarter. It was good news for Microsoft shareholders today…
The software giant reported that profit grew 7.3% in its fiscal fourth quarter. Meanwhile, revenue for its fiscal year topped $50 billion for the first time.
Microsoft posted quarterly net income of $3.0 billion, or 31 cents a share, on sales of $13.4 billion, meeting analyst expectations. In the year-ago quarter, it had net income of $2.8 billion, or 28 cents a share, on sales of $11.8 billion.
For fiscal 2007, Microsoft earned $14.1 billion, or $1.42 a share, on record sales of $51.1 billion.
Charly Tracy, Microsoft senior finance manager, attributed robust sales growth to “strong execution by our partners and sales force.”
Windows PC software, Windows server software and Office saw revenue increases of 14%, 15% and 19%, respectively, compared with the year-earlier period, Tracy says.
Read the complete article on USAToday.com if you would like to learn more:
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