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Microsoft Reports Higher Quarterly Earnings | |
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| Time: 19:49 EST/00:49 GMT | News Source: FunXBox | Posted By: Evan Hochberg | ||
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Redmond, Washington-based Microsoft reported a net profit of $2.79 billion, or 26 cents per share, for its fiscal third quarter ended March 31, compared with $2.74 billion, or 25 cents per share, a year earlier. Analysts on average had forecast a profit of 24 cents per share.
Microsoft projected earnings of 97 cents or 98 cents per share for the current fiscal year ending in June. That was higher than the company's previous outlook for 95 cents to about 96 cents issued in January but still below the average Wall Street forecast for $1.02.
But the world's largest software maker also offered a cautious outlook for the coming fiscal year, saying it did not expect an economic rebound to drive a recovery in spending on computers and related software. Analysts have warned that the maker of Windows software may start to feel some pain as the benefits of that shift begin to fade.
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