Microsoft shares were higher by 2.5% after hours due to better than expected results. It is reported that during fiscal third-quarter the company earned 60 cents for each share or $5.11 billion. In the year-ago quarter the company earned 61 cents for each share or $5.23 billion. Analysts were expecting earnings of 57 cents per share.
The results further increased optimism about Microsoft which will launch the latest version of Windows this year that is expected to create a dent into Google and Apple Inc’s dominance of the mobile market.
Analysts said that the Overall revenue increase was 6%. Microsoft shares were at a 4-year high last month at $32.95. The world’s largest software maker has not yet announced when its Windows 8 system will be released, however analysts expect it will be on devices since October this year, which will offer a substitute to Apple’s iPad. At this time Next year we must be discussing about Windows 8 mobile.
Personal computer sales in the quarter increased worldwide by 1.9%. It was much better than expected keeping in mind that market faced hard-drive shortages due to the onslaught of Apple Inc’s iPad as well as floods in Thailand.Previous Post » Stock Market Report – Volume and Gainers