Microsoft Q3 net income jumps to $5.23 Billion

Friday, 29 April 2011, 07:44 Hrs
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New York: Software giant Microsoft Corp has reported a 31 percent jump in net income to $5.23 billion for the January-March quarter of 2011 on strong sales of its Office and Xbox products.

The company's revenue rose by 13 percent vis-a-vis the year-ago period to $16.43 billion in the third quarter ended March 31, 2011, Microsoft said in a statement.

"We delivered strong financial results despite a mixed PC environment, which demonstrates the strength and breadth of our businesses.

"Consumers are purchasing Office 2010, Xbox and Kinect at tremendous rates and businesses of all sizes are purchasing Microsoft platforms and applications," Microsoft Chief Financial Officer Peter Klein said.

The software major attributed its strong quarter earnings to robust revenue growth of its four divisions -- the Microsoft business division, server and tools; online services and the entertainment and devices unit.
Source: PTI
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