Microsoft Profits Go Up 79%
Yesterday Microsoft announced that its quarterly profits had increase by 79%. This could potentially bring some hope to the technology industry in the midst of the recession. Shares of the company rose by 4.5% in after-hours trade, after a 4% gain throughout the day coming to a total of over $26 for the firm’s market value for the day, according to Reuters.
The software giant reported big numbers in sales of Windows Vista an Office software on top of strong computer and Xbox sales.
CFO Chris Liddell said to Reuters in an interview that the company has been “a little cautious” about North American sale however he did offer “You have to look really hard to find any weakness in our results.”
Net profit for the company’s fiscal Q2 climbed to $4.7 billion, from $2.6 billion last year. Revenue rose 30% to $16.37 billion.
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