Microsoft Meets 2Q Lowered Earnings Estimates
Company attributes success to sales of Windows 2000 and rest of operating systems line despite slowing PC sales.
Microsoft Corporation announced Thursday it had record earnings for the quarter ended on Dec. 31, 2000. Net income came in at $2.62 billion or 47 cents per share, which is an eight percent increase over the same quarter in 1999, according to the earnings release from the company. Revenue topped $6.59 billion. Analyst had originally lowered earnings expectations from 49 cents to 44 cents when Microsoft announced in December that it predicted only 5 percent growth due to slow PC sales.
Microsoft attributes its prosperity to the success of Windows 2000 Professional, Windows 2000 Server and .NET Enterprise Servers. The company also reports record level sales of the Windows family of operating systems.
While its last quarter was a successful one, Microsoft said in its statement that it will "remain guarded" about the near-future economic outlook and its impact on technology sales. Nonetheless, the company says it expects meet a fiscal year end earnings goal of $1.80 per share.
For more information, go to http://www.microsoft.com/msft/earnings/FY01/q201.htm.