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Microsoft Q3 Earnings Up, Street Unimpressed

Microsoft increases its net income 35% in the third quarter, "but investors wanted even stronger signals of a recovery and sent Microsoft shares down in after-hours trading Thursday," reports The Philadelphia Inquirer. For the January-to-March fiscal third quarter, Microsoft earned $4.01 billion, or 45 cents a share. That was higher than the 42-cents-a-share forecast by analysts surveyed by Thomson Reuters. It was an increase from $2.98 billion, or 33 cents a share, a year earlier.

Revenue rose 6 percent to $14.5 billion, slightly more than the $14.4 billion analysts were expecting. Microsoft had $13.6 billion in revenue in the same quarter a year earlier. Microsoft shares fell $1.08, 3.44 percent, to $30.31 in extended trading Thursday. Before results were released, the stock gained 6 cents to close at $31.39.

Read the whole story at Associated Press »

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