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Microsoft Reports Record First Quarter Earnings
>> REDMOND, Wash. -- Oct. 21, 2004 -- Microsoft Corp. today announced revenue of $9.19 billion for the quarter ended September 30, 2004, a 12% increase over revenue of $8.22 billion for the same period in the prior year. Operating income for the first quarter was $4.05 billion and net income was $2.90 billion.
Demand for Microsoft's core platform products from business customers and growth in shipments of PCs and servers drove strong results in the Client, Information Worker and Server and Tools groups.
Home and Entertainment revenue grew 9% (to $632 million) driven by increased sales of Xbox(R) consoles and games while its operating loss narrowed by more than 47% compared to the prior first quarter ($142 million compared to $273 million last year) as a result of higher than expected sales of Xbox games. Set to launch on November 9th, Halo 2 is one of the most anticipated video games on any platform and has achieved record-breaking video game pre-orders of 1.5 million. "Xbox continues to be the only platform to show year-over-year growth and has now outsold Sony PlayStation 2 for two months in a row in the United States," said Robbie Bach, senior vice president, Home and Entertainment group. "With a robust portfolio of games and cornerstone titles like Halo(R) 2 and Fable -- which was the top selling video game across all platforms in September -- our holiday lineup is the strongest in Xbox history. Moreover, with 150 Xbox Live titles available this holiday, we expect the market momentum around the Xbox business to continue to accelerate."
You can read the full press release on microsoft.com.
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