Microsoft announces record profits
29th Oct 2010 | 10:03
First-quarter profit of $5.41 billion
Microsoft has announced record financial results, with Steve Ballmer announcing $16.20 billion in revenue for the first quarter of its 2011 fiscal year, with $5.41 billion in profit.
Ballmer and co. are citing Office 2010 and the sustained 'PC refresh cycle' as the key drivers behind these record financials, in addition to solid growth in the Xbox 360 gaming side of the business.
Microsoft is in the money
Microsoft notes that overall revenue is up 25 percent over the same quarter in 2009, with a concurrent 51 per cent gain in profit.
Most of the company's other divisions showed significant growth over the same quarter, with some particularly interesting results including:
- Revenue at Microsoft's Windows division rose to $4.8 billion from $2.9 billion, with a profit of $3.3 billion.
- Revenue at the company's business unit, which includes Microsoft Office, rose to $5.1 billion from $4.5 billion. Profit was $3.4 billion.
- Revenue at its Entertainment and Devices Division rose to $1.7 billion from $1.5 billion. Profit was $382 million.
"This was an exceptional quarter, combining solid enterprise growth and continued strong consumer demand for Office 2010, Windows 7 and Xbox 360 consoles and games," Microsoft CFO Peter Klein said in a statement.
"Our ability to grow revenue while continuing to control costs allowed us to deliver another quarter of year-over-year margin expansion."
You can see all the details on Microsoft Q1 2010 earnings online