Holiday Sales Help Push Profit Up at Microsoft

Posted by Unknown on Thursday, January 23, 2014

Technology |Holiday Sales Help Push Profit Up at Microsoft

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SEATTLE — Microsoft on Thursday said its profit rose 3 percent as its new Xbox game console and Surface tablet lifted sales during the holiday season.

The company reported net income in the last quarter of $6.56 billion, or 78 cents a share, up from $6.38 billion, or 76 cents a share a year ago. Microsoft’s revenue jumped 14 percent, to $24.52 billion from $21.46 billion a year ago.

Analysts surveyed by Thomson Reuters on average expected the company to report earnings of 68 cents a share and revenue of $23.68 billion.

“Our commercial segment continues to outpace the overall market, and our devices and consumer segment had a great holiday quarter,” said Steven A. Ballmer, Microsoft’s chief executive officer. “The investments we are making in devices and services that deliver high-value experiences to our customers, and the work we are doing with our partners, are driving strong results and positioning us well for long-term growth.”

Microsoft said revenue from its Surface tablets more than doubled from the previous quarter, rising to $893 million from $400 million.