Microsoft Beats The Street: Net Income Up 51 Percent, Office Revenue Up 15 Percent
Microsoft just released better than expected Q1 earnings, posting first-quarter revenue of $16.2 billion, an 25% increase from the same period of the prior year. Analysts expected revenue to come in at $15.8 billion. Operating income, net income and diluted earnings per share for the quarter were $7.12 billion, $5.41 billion and $0.62 per share, which represented increases of 59%, 51% and 55%, respectively, when compared with the prior year period. Analysts were expecting diluted earnings per share of $0.55.
Microsoft said that the company saw year-over-year growth across all business segments. Revenue from Office 2010 grew over 15% in its first full quarter in market. Xbox 360 consoles grew 38%. Bing continued to grow market share. Revenue from online business was up 8%, with online advertising up 13% for the quarter. Unfortunately, Microsoft reported that online business still lost $560 million in operating income.
Peter Klein, chief financial officer at Microsoft said in a statement: “This was an exceptional quarter, combining solid enterprise growth and continued strong consumer demand for Office 2010, Windows 7, and Xbox 360 consoles and games…Our ability to grow revenue while continuing to control costs allowed us to deliver another quarter of year-over-year margin expansion.”
We’ve embedded the slides below.
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