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HindustanTimes Fri,25 Jul 2014

Microsoft Q3 earnings beat Wall Street expectations

AP  Redmond, Washington , April 25, 2014
First Published: 02:50 IST(25/4/2014) | Last Updated: 02:53 IST(25/4/2014)

Microsoft Corp. posted flat revenue and a decline in net income for the January-March quarter. Revenue gains from its Windows operating system and cloud computing services like Azure were offset by the lack of special upgrade offer revenues from a year ago.

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The results beat analyst expectations and the company's shares rose $1.01, or 2.5%, to $40.87 in after-hours trading. They had closed up 17 cents at $39.86 in the regular session.

Net income in the quarter through March 31 came to $5.66 billion, or 68 cents per share, down from $6.06 billion, or 72 cents per share, in the same period a year ago.

Revenue was nearly unchanged at $20.40 billion, compared with $20.49 billion a year ago.

Analysts polled by FactSet expected Microsoft to post earnings of 63 cents per share on revenue of $20.39 billion.

Revenue from devices and consumer products rose 12% to $8.30 billion as the company sold more Xbox One game consoles and consumers upgraded systems from Windows XP, for which Microsoft ended support earlier this month.

Commercial revenue grew 7% to $12.23 billion, as revenue grew from its Office 365 productivity software. Azure revenue more than doubled.

Total revenue gains of $1.7 billion from various segments were offset by a $1.8 billion decline in upgrade offers revenue.


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