Microsoft posts record quarterly revenues of $16bn
Posted in: Miscellaneous at 23/07/2010 21:48
- Microsoft announces 22% rise in three months to June
- Profits near $6bn, underlining recovery in technology sector
- Results beat record from rival Apple
Microsoft added to the growing sense of recovery in the technology sector last night by reporting record quarterly revenues, driven by strong sales. The software giant pipped Apple, one of its greatest rivals, with a 22% jump in revenues to $16bn (£10.5bn) in the three months to the end of June. Operating profits jumped 49% to $5.9bn during the quarter.
The figures beat Wall Street estimates, and sent Microsoft's shares up nearly 3% in after-hours trading. But they also showed that the company is still heavily reliant on its Windows operating system and Office suite, despite years of huge investment in online services and computer gaming.'
Windows Upgrade Helps Microsoft to a Record Quarter
Microsoft rumbled to record sales in its last quarter with its Windows and Office franchises performing like faithful old friends. About 175 million licenses of Window 7 have been sold since the product was released last year, making it the fastest selling version of Windows. In addition, both consumers and corporations have increased their purchases of Microsoft's software, reflecting that a significant PC upgrade cycle has taken hold.
"They're doing well across the board," said Sasa Zorovic, an analyst with Janney Montgomery Scott.