Microsoft's Quarterly Profit Doubles

Microsoft yesterday posted its smallest growth in quarterly revenue in nearly five years, but its bottom line met Wall Street's expectations, and the company said it foresees bigger growth in the year ahead. The Redmond company reported revenue of $9.62 billion for the quarter ended March 31, a 5 percent increase over the same quarter last year. Such growth isn't likely to vault Microsoft back into the realm of the tech sector's high-flying stocks.

But Microsoft's net profit climbed to $2.56 billion, nearly doubling, thanks in part to a reduction in legal expenses. At this point last year, the company was accounting for both a major settlement with Sun Microsystems Latest News about Sun Microsystems and a large antitrust Latest News about Antitrust fine imposed by the European Commission Latest News about European Commission. The company reported earnings per share of 23 cents, but that included legal costs and expenses related to stock-based compensation for employees.

News source: NewsFactor

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