Microsoft profit, sales up, shares rise
Reuters | at | by Mike
Microsoft on Thursday reported its first-quarter net profit more than doubled, topping even the most optimistic forecasts, as revenues surged on its new licensing plan and reseller sales. Microsoft's shares soared in after-hours trade following the release of results, trading at $53.20, up from a close of $50.77 on the Nasdaq. For the first fiscal quarter ended Sept. 30, the world's largest software company said its net profit was $2.73 billion, or 50 cents per share, up from $1.28 billion, or 23 cents per share, a year earlier when it took a charge of 20 cents per share on investment impairments. The Redmond, Washington-based company three months ago had forecast a net profit of 42 cents or 43 cents per share.