Impressive return: Microsoft tops expectations with record revenue
Looks at strong consumer demand for mobile devices, programmes.
Looks at strong consumer demand for mobile devices, programmes. PHOTO: FILE
SAN FRANCISCO:
Microsoft soared to record revenues in the last quarter, the company said Thursday, confounding Wall Street forecasts on the back of strong demand for Xbox consoles, Surface tablets and internet ‘cloud’ services.
The US-based technology titan reported a net income of $6.56 billion on revenue that hit a record high of $24.52 billion in the quarter that ended December 31.
“Our commercial segment continues to outpace the overall market, and our devices and consumer segment had a great holiday quarter,” said Steve Ballmer, outgoing chief executive officer (CEO).
Microsoft shares climbed more than three percent to $37.25 in after-market trades on the Nasdaq following release of the earning figures.
Sales of the surface tablets more than doubled from the previous quarter to hit $893 million, and Microsoft sold 7.4 million Xbox consoles, with 3.9 million of those being new-generation Xbox One.
Bing’s share of the internet search market grew to 18.2%, while its share of the online search ad market grew about a third, according to Microsoft.
Meanwhile, money made from selling Windows software to computer makers slid by three percent due to the continuous soft demand by consumers for personal computers, according to Microsoft.
Microsoft has been under pressure to adapt to lifestyles revolving around mobile devices and programmes offered as services hosted in the internet ‘cloud’.
Microsoft reported that cloud services to businesses and consumers posted strong growth.
Ballmer, late last year, unexpectedly announced he is stepping down to clear way for a successor who will help the company reinvent itself for the mobile internet age.
“Unless you’re constantly inventing something new, you’re old and tired,” Ballmer said at a conference in Rome in December. “Today, we have to remake ourselves.”
Microsoft has indicated that the hunt for a new chief executive should be over early this year.
Published in The Express Tribune, January 26th, 2014.
Microsoft soared to record revenues in the last quarter, the company said Thursday, confounding Wall Street forecasts on the back of strong demand for Xbox consoles, Surface tablets and internet ‘cloud’ services.
The US-based technology titan reported a net income of $6.56 billion on revenue that hit a record high of $24.52 billion in the quarter that ended December 31.
“Our commercial segment continues to outpace the overall market, and our devices and consumer segment had a great holiday quarter,” said Steve Ballmer, outgoing chief executive officer (CEO).
Microsoft shares climbed more than three percent to $37.25 in after-market trades on the Nasdaq following release of the earning figures.
Sales of the surface tablets more than doubled from the previous quarter to hit $893 million, and Microsoft sold 7.4 million Xbox consoles, with 3.9 million of those being new-generation Xbox One.
Bing’s share of the internet search market grew to 18.2%, while its share of the online search ad market grew about a third, according to Microsoft.
Meanwhile, money made from selling Windows software to computer makers slid by three percent due to the continuous soft demand by consumers for personal computers, according to Microsoft.
Microsoft has been under pressure to adapt to lifestyles revolving around mobile devices and programmes offered as services hosted in the internet ‘cloud’.
Microsoft reported that cloud services to businesses and consumers posted strong growth.
Ballmer, late last year, unexpectedly announced he is stepping down to clear way for a successor who will help the company reinvent itself for the mobile internet age.
“Unless you’re constantly inventing something new, you’re old and tired,” Ballmer said at a conference in Rome in December. “Today, we have to remake ourselves.”
Microsoft has indicated that the hunt for a new chief executive should be over early this year.
Published in The Express Tribune, January 26th, 2014.