Microsoft announces major profits boost
31 January 2005
Software giant Microsoft has announced that its quarterly earnings have more than doubled.
The Redmond-based firm raised its earnings forecast for its full fiscal year, which ends June 2005. For the full fiscal year ending June 30th, Microsoft now expects to earn between $1.09 and $1.11 per share, up from estimates of between $1.07 and $1.09.
Earnings over the second quarter, ending December 31st, were boosted by stock-based compensation costs of three cents a share.
Microsoft said Thursday that it earned $3.46 billion, or 32 cents per share, compared with earnings of $1.55 billion, or 14 cents per share, for the same three months the previous year. Revenue for the quarter was $10.82 billion, up from $10.15 billion in the same period in 2003, exceeding analysts' expectations.
The software company also reported its first profitable quarter in its home and entertainment division, fuelled by strong sales of its Xbox Live online gaming service and the phenomenally popular Halo 2 video game. The unit saw operating income rise to $84 million for the quarter, compared with a loss of $397 million in the same period a year earlier.
For the six months ended December 31st, Microsoft earned $5.99 billion, or 55 cents per share, on revenue of $20 billion. Compared with earnings of $4.16 billion, or 38 cents per share, on revenue of $18.37 billion in the same period a year earlier.
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