Microsoft announces bumper profit

25-01-2008

Microsoft announces bumper profit
Microsoft has announced strong Christmas figures with its net income increasing 44 per cent compared to the same period last year.

The computing firm said that year-on-year Xbox 360 sales increased by 70 per cent, bringing the total number of the gaming consoles sold to 17.7 million, computer sales were in the double-digits.

"Revenue of over $16 billion [£8 billion] this quarter exceeds our previous record by $2 billion [£1 billion]," said Chris Liddell, chief financial officer at Microsoft.

"We are extremely pleased by the broad based strength of our business performance and field execution."

Mr Liddell said the software firm's performance "met or beat" expectations across the board.

Kevin Turner, chief operating officer at Microsoft commented: "We are in the midst of another strong year with great momentum heading into the calendar year 2008."

According to the company's latest trading statement, revenue grew by 30 per cent, while operating income and diluted earnings per share increased by 87 per cent and 92 per cent respectively compared to the year prior.

Microsoft's new Windows Vista operating system was also successful, with sales growing by over 20 per cent to total 100 million licenses.

The result is a relief to many after disappointing performances from other software and hardware makers and retailers over the key Christmas period rattled stock markets.

In a conference call yesterday Mr Liddell told reporters that Microsoft was not impacted by the US slowdown. The maker of Halo 3 saw its share price rise of four per cent to $33.25 (£16.63) in trading on Wall Street yesterday.

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