Microsoft sales up despite IT downturn
Despite the doom and gloom of the industry downturn, shares in Microsoft are on the way up, on the back of new product releases and higher licensing fees.
Shares in the company rose as much as 7.7% after fourth-quarter sales beat forecasts.
Microsoft stock rose $4.33 to $70.83, making a gain of 63% this year altogether.
Sales at the end of the fourth quarter, 30 June were Pounds 4.68bn to Pounds 4.71bn, compared with an earlier forecast of Pounds 4.47bn to Pounds 4.68bn.
Profit was also made from 41 cents to 42 cents a share. Earnings hit 1 cent a share.
‘Despite the very weak PC industry setting, Microsoft is enjoying an upshift in average sales prices,” said an analyst.
He said that Microsoft was probably also enjoying high revenue from sales of its recently released office software, Office XP.