Microsoft Profit Tops Estimates on Corporate Demand
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Microsoft Corp., the world’s largest software maker, reported fiscal third-quarter profit that topped estimates on better-than-expected sales of software for businesses.
Net income slipped to $5.11 billion, or 60 cents a share, from $5.23 billion, or 61 cents, a year earlier, Redmond, Washington-based Microsoft said today in a statement. Analysts had predicted an average 57 cents in profit, according to estimates compiled by Bloomberg. Sales rose to 6 percent to $17.4 billion, beating the $17.2 billion average projection.