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Microsoft revenues hit a record as Xbox sales soar | Microsoft revenues hit a record as Xbox sales soar |
(about 14 hours later) | |
The US technology giant Microsoft said its annual revenues hit a record of $69.94bn (£43.4bn). | The US technology giant Microsoft said its annual revenues hit a record of $69.94bn (£43.4bn). |
Sales of the company's Xbox 360 videogame console and its Office software helped fuel the growth. | Sales of the company's Xbox 360 videogame console and its Office software helped fuel the growth. |
Net income at the world's biggest software maker jumped 23% to 23.15bn for the year. | Net income at the world's biggest software maker jumped 23% to 23.15bn for the year. |
The figures, which beat forecasts, showed final quarter revenues reached a record high of $17.37bn, leading to profits of $5.87bn. | |
Sales rose 8% to $17.37 billion, a boosted chiefly by sales of Office, Xbox and server software behind Microsoft's push into cloud computing. | Sales rose 8% to $17.37 billion, a boosted chiefly by sales of Office, Xbox and server software behind Microsoft's push into cloud computing. |
Microsoft's business division, which sells the Office suite of programs, including Outlook, SharePoint and Excel, was the company's biggest seller in the quarter, increasing sales by 7% to $5.8bn. | Microsoft's business division, which sells the Office suite of programs, including Outlook, SharePoint and Excel, was the company's biggest seller in the quarter, increasing sales by 7% to $5.8bn. |
The company's online services unit, which runs the Bing search engine and MSN internet portal, increased sales by 16.5% to $662m, but saw losses increase to $728m as it struggles to fight competitor Google. | The company's online services unit, which runs the Bing search engine and MSN internet portal, increased sales by 16.5% to $662m, but saw losses increase to $728m as it struggles to fight competitor Google. |
One weaker spot was sales of its widely-used Windows product, which are slowing as tablet PC sales eat into demand for traditional PCs. | One weaker spot was sales of its widely-used Windows product, which are slowing as tablet PC sales eat into demand for traditional PCs. |
On Wednesday, chipmaker Intel warned that PC sales would not be as strong as it had expected this year. | On Wednesday, chipmaker Intel warned that PC sales would not be as strong as it had expected this year. |
Microsoft is itself expected to enter the tablet market next year with the launch of its next operating system, code-named Windows 8, which will be compatible with the low-power chips commonly used by tablet and mobile phone makers. | Microsoft is itself expected to enter the tablet market next year with the launch of its next operating system, code-named Windows 8, which will be compatible with the low-power chips commonly used by tablet and mobile phone makers. |
Microsoft is the latest technology company to exceed profit expectations. | Microsoft is the latest technology company to exceed profit expectations. |
Google, Apple and IBM all reported strong earnings recently. | Google, Apple and IBM all reported strong earnings recently. |
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