Printer Friendly
The Free Library
23,403,340 articles and books


MICROSOFT EARNINGS EXCEED FORECASTS.

Byline: Daily News Staff and Wire Services

Microsoft Corp.'s profits rose 52 percent in the latest quarter, helped by continued strong computer sales, the software company said Wednesday after stock markets had closed.

Microsoft reported record net income of $1.13 billion or 85 cents a share on a diluted basis for the three months ended Dec. 31. That compares with net income of $740 million or 57 cents a share a year earlier.

Revenues totaled $3.59 billion, up 34 percent from the $2.68 billion a year ago.

The profit outpaced analysts' consensus estimates, which had forecast about 82 cents a share.

Microsoft said revenues from Southeast Asia and the Far East fell 8 percent from the previous quarter and that economic weakness in the region clouds the outlook for this year. Microsoft said European revenues rose 33 percent from a year earlier and that software sales to computer makers rose 40 percent.

Microsoft wasn't the only major company to announce quarterly earnings Wednesday that analysts looked to for any affect of the Asian financial crisis. Among the others:

The Boeing Co., still struggling with production problems, said Wednesday it would take a one-time charge of $1.4 billion for the fourth quarter of 1997 to cover the costs of phasing out assembly lines at McDonnell Douglas, the company it acquired last August.

BankAmerica Corp. said fourth-quarter earnings rose 8.7 percent, meeting analyst forecasts, as gains in the U.S. overshadowed a drop in trading revenue from Asia's tumbling financial markets.

Caterpillar Inc.'s fourth-quarter earnings rose 18 percent, topping estimates, as strong overall sales helped the world's largest maker of construction equipment overcome a slowdown in business in some Southeast Asian countries.

Northrop Grumman Corp.'s fourth-quarter earnings rose 79 percent because strong deliveries of commercial airlines parts and business jet planes more than offset lower sales of the B-2 bomber and F-18 fighter.

Compaq Computer Corp.'s fourth-quarter earnings rose 37 percent as the world's largest personal computer maker sold more high-profit machines and said it's weathering the Asian economic crisis.
COPYRIGHT 1998 Daily News
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1998, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

 Reader Opinion

Title:

Comment:



 

Article Details
Printer friendly Cite/link Email Feedback
Title Annotation:BUSINESS
Publication:Daily News (Los Angeles, CA)
Article Type:Statistical Data Included
Geographic Code:1USA
Date:Jan 22, 1998
Words:347
Previous Article:BANK POSTS BIG PROFIT GAIN.
Next Article:TAXPAYER DOLLARS.
Topics:



Related Articles
Replacement passenger tire shipments top 185 million in 1998.
IDC Expects Strong Growth In The Information Access Tools Market.
SRC Software.
IBM EARNINGS EXCEED FORECASTS.
MICROSOFT'S EARNINGS JUMP.
WINDOWS 95 DRIVES 54% EARNINGS JUMP FOR MICROSOFT.
New release of Comeshare MPC. (Management News).
ShowCase. (Forecasting).
BRIEFCASE IBM STRIKES BACK AGAINST SCO CLAIM.
Kenedix Announces Revisions to Interim and Full Year Earnings Forecasts.

Terms of use | Copyright © 2014 Farlex, Inc. | Feedback | For webmasters