Microsoft Corp smashed Wall Street's profit and sales expectations on Friday, sending its shares up 9 percent, as the PC market showed signs of stabilizing and sales of its Windows software and Xbox game consoles held up much better than expected.The strong results top a successful week for the world's largest software company, which launched its Windows 7 operating system to positive reviews on Thursday, as it looks to regain leadership in the technology sector from rivals Apple Inc and Google Inc.
"Microsoft is back. They are able to succeed despite heightened competition from Apple's share gain and Google's great brand," said Katherine Egbert, an analyst with Jefferies & Co. "The numbers were unbelievable. An absolutely blowout."
Microsoft's shares reached their highest level since June 2008. The results follow better-than-expected earnings from technology bellwethers Intel Corp (INTC.O), Google and Apple.
Microsoft said fiscal first-quarter profit fell 18 percent to $3.57 billion, or 40 cents per share, compared with $4.37 billion, or 48 cents per share, in the year-ago quarter.
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