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Microsoft Income Jumps 79%

Posted Jan 24, 08 5:21 PM CST in Technology,  Business 

(Newser) – Microsoft topped estimates today, revealing a 79% jump in quarterly profits over the same period last year—and raising targets for the year. On Xbox 360 and Windows sales, the world's largest software maker boasted net income of $4.71 billion for the period ending December 31, up from the previous year’s $2.63 billion. Sales rose 30% to $16.4 billion, Bloomberg reports.

The video-game console’s success was driven by “Halo 3,” 2007’s best-selling game in the US. The Washington brand also scored by convincing computer-makers to install expensive versions of the new Vista OS. Microsoft's COO boasted of “healthy demand” for the company’s products. Of 32 analysts, 23 rated Microsoft at buy, while seven suggested holding, and only two told investors to sell the stock.

Sources: Bloomberg, Wall Street Journal, MarketWatch

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This image provided by publisher Microsoft Corp., shows Master Chief, the protagonist in the new video game "Halo 3." Microsoft Corp. is scheduled to report fiscal first-quarter earnings after the closing...   (Associated Press)
Bill Gates, Chairman of Microsoft Corporation, reacts as he addresses a conference at the World Economic Forum in Davos, Switzerland, Thursday Jan. 24, 2008. (AP Photo/Peter Dejong)   (Associated Press)
Microsoft chairman Bill Gates plays on an XBox 360 Guitar Hero III controller at the Consumer Electronics Show (CES) in Las Vegas, Sunday, Jan. 6, 2008. Microsoft is expected to release quarterly earnings...   (Associated Press)
Microsoft CEO Steve Ballmer waves at the end of his talk at the Web 2.0 conference in San Francisco, Thursday, Oct. 18, 2007. Microsoft Corp. said Thursday, Oct. 25, 2007, its fiscal first-quarter profit...   (Associated Press)
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