Microsoft's quarterly results, released a few minutes ago, beat Wall Street expectations with earnings per share of 50 cents and revenue of $16.37 billion, an increase of 30 percent over the same quarter last year.
The company cited strength in its PC Windows division, Microsoft Business Division and Server & Tools. Analysts polled by Thomson Financial had been expecting earnings per share of 46 cents on revenue of $15.9 billion.
(In assessing the growth rate for the recent quarter, note that Microsoft deferred $1.64 billion in revenue from the same quarter last year, because of the Windows Vista and Office delays. Had that revenue been counted then, the growth rate would have been 15 percent this quarter.)
In addition, the company raised its revenue and earnings projections for the year, despite the broad economic uncertainty that has affected other tech companies this week. The company is now looking for annual revenue of $59.9 billion to $60.5 billion (up from the previous forecast of $58.8 billion to $59.7 billion) and earnings per share of $1.85 to $1.88 (previously $1.78 to $1.81).
It's Microsoft's second straight quarter of unusually strong results. The company has a conference call with analysts at 2:30. More details and divisional results to come ...
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