Microsoft Sales Higher, Takes Charge
Reuters | at | by Mike
Microsoft Corp. said on Thursday sales grew 10 percent in the fourth quarter, lifted by demand for its Windows XP operating system and software for businesses while losses on cable investments cut into earnings. Redmond, Washington-based Microsoft also pared back its full-year profit and sales outlook slightly, and said that growth was more likely to come later in the fiscal year. The world's largest software maker pegged per-share profit for fiscal 2003 at $1.85 to $1.91, a slight reduction from $1.89 to $1.92 projected three months ago.
"We're very enthused about fiscal 2003," said Microsoft's Chief Financial Officer John Connors told Reuters. "We exited the latest fiscal year in a stronger position than we entered."