Microsoft Reports Financial Results and Consistent Gaming Performance

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MicrosoftMicrosoft announced the financial results for its fiscal third quarter ended March 31, 2009:
For the quarter, Microsoft reported net income of $2.977 billion, compared to net income of $4.388 billion in the same quarter the previous year. This reduced performance included $290 million of charges relating to its plans to rid itself of 5,000 employees and $420 million of charges resulting from problems with Microsoft's investments.

The Entertainment and Devices Division, that includes Microsoft's Xbox 360 operations and PC gaming, reported an operating loss of $31 million for the quarter compared to operating income of $106 million in the same quarter the prior year. This loss was based on revenues for the quarter of $1.567 billion for the division compared to revenues of $1.592 billion in the same quarter the previous year. The decrease in revenues can largely be accounted for by unfavorable exchange rates for foreign sales. Xbox 360 and PC game revenues increased 16%, mostly due to increased Xbox 360 game sales. Microsoft shipped 1.7 million Xbox 360 consoles during the quarter, but at a lower price than in the same quarter the previous year.

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This page contains a single entry by Editor published on April 23, 2009 2:27 PM.

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