Microsoft Income Jumps 79%

Office, Vista, and Xbox behind $4.7B in quarterly revenue
By Jonas Oransky,  Newser Staff
Posted Jan 24, 2008 5:21 PM CST
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)
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(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.