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Microsoft 2nd-Qtr Net Doubles; Xbox Turns a Profit
>> From Bloomberg.com:
[QUOTE]
Microsoft Corp., the world's largest software maker, said second-quarter profit doubled on lower stock- based compensation costs. Sales of Windows for corporate networks and the Xbox video console beat the company's forecasts.
Net income rose to $3.46 billion, or 32 cents a share, from $1.55 billion, or 14 cents, a year earlier, Redmond, Washington- based Microsoft said today in a statement. Sales rose 6.5 percent to $10.8 billion.
The unit that makes Microsoft's Xbox games was boosted by the November release of the ``Halo 2'' game. The Home and Entertainment division, on which Microsoft spent $12 billion between 2000 and 2004, earned $84 million (on revenue of $1.41 billion) compared with a loss of $397 million (on revenue of $1.27 billion) a year earlier.
Microsoft boosted its estimate for Xbox console sales for the year ended June 30 after the unit almost reached the full-year forecast for sales of 20 million machines at the end of December. The company now expects sales of 21 million to 22 million by June, Connors (Chief Financial Officer) said.
Some analysts expect Microsoft to release a new Xbox machine for Christmas this year. Connors declined to comment on the release and said the company would begin talking about the new version at a May games conference.
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Read the whole article on Bloomberg.com and News.com
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