Microsoft CFO finds profits in XP

This followed Microsoft’s results for the quarter ending 30 June which saw the Redmond giant hit profits of $1.53bn (£970m), or 28 cents per share, compared with $65m, or 1 cent a share, in the same period last year.

Revenues for the quarter climbed to $7.25bn, a 10% increase from last year.

Connors said the company increased its sales to corporate customers despite the slow down in technology spending.

Meanwhile Microsoft rival Sun Microsystems has posted fourth-quarter earnings of $20m – returning to profit for the first time since the downturn.

Sun earned $20m or 1 cent a share, compared with a loss of $88m or 3 cents a share, in the same period a year ago.

Revenues were $3.4bn, down 16.8% from $4bn reported a year ago. Scott McNealy, Sun’s chief executive, told Reuters: ‘We stated a goal of reporting a profit this quarter and we achieved that goal.’

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