Microsoft First-Quarter Sales, Profit Top Analyst Estimates
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Microsoft Corp. reported first-quarter sales and profit that exceeded analysts’ projections as the company, which is looking for a replacement for Chief Executive Officer Steve Ballmer, relied on corporate software demand to make up for weak consumer personal-computer purchases.
Net income in the period that ended Sept. 30 rose to $5.24 billion, or 62 cents a share, from $4.47 billion, or 53 cents, a year earlier, Microsoft said today in a statement. Sales climbed 16 percent to $18.5 billion. Analysts on average had predicted profit of 54 cents on $17.8 billion in revenue, according to data compiled by Bloomberg. The shares jumped in late trading.