Microsoft Profit Surges 17 Percent

Microsoft LogoThe Redmond, Wash.-based software giant said its net income in its fiscal first quarter jumped 17% to $5.2 billion, or 62 cents per share. Analysts polled by Thomson Reuters forecast earnings of 54 cents per share.

Sales also came in higher than expected. Microsoft’s revenue rose 16% over the year to $18.5 billion, topping forecasts of $17.8 billion.

Those strong results pushed Microsoft (MSFT, Fortune 500) 6% higher.

Microsoft CFO Amy Hood struck an upbeat tone on the post-earnings conference call with analysts and members of the press.

Source: CNN