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Microsoft results lifts technology gloom

Microsoft has posted strong third quarter profits and revenues, beating Wall Street estimates, driven by strong sales of its Windows operating system and server products.
Written by Chris Holbrook, Contributor

Microsoft has posted strong third quarter profits and revenues, beating Wall Street estimates, driven by strong sales of its Windows operating system and server products.

Revenue for the software giant rose to $6.46bn for the quarter ended 31 March, up 14 per cent from $5.66bn for the comparable period last year. Microsoft reported a net income of $2.45bn, or 44 cents a share, compared with $2.39bn, or 43 cents a share, a year earlier. A consensus of analysts polled by First Call/Thomson Financial had predicted earnings of only 42 cents a share for the quarter. Despite the surprisingly good results, the company issued cautious guidance for the months ahead, saying that fourth quarter performance will be similar to the third quarter, with revenues of between $6.3bn and $6.5bn. Microsoft's Nasdaq-listed shares rose $2.59, or 3.9 per cent, to $68.02 in regular trading on Thursday. Shares traded about $4 higher in after-hours action, following the release of the earnings.
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