|Yesterday, Microsoft (MSFT) annonced results for the third quarter. In short, the takeaways were:
- Overall revenues for the quarter came in at $15 billion, an increase of 9 percent annually
- Net profits of $4.37 billion were reported; an increase of 1.9 percent
- The company’s online revenues, (including MSN, search and its advertising networks) grew 15 percent to $770 million in the quarter.
- The online business segment posted an operating loss of $480 million, which is almost double the $267 million loss it posted a year ago
- Interestingly enough, Microsoft will be taking $400 to $500 million out of costs by slowing its hiring and cutting back on marketing and travel expenses.
Although reporting better-than-expected results for its latest quarter, Microsoft gave a fairly cautious outlook. Microsoft issued downside guidance for its second quarter and fiscal year 2009 based on the current economic situation in the US.
Labels: Microsoft financials