Microsoft Beats Earnings Estimates for Fiscal Q3; Surface Sales Hit $500 Milllion


Satya-nadella-.jpg

Microsoft CEO Satya Nadella waves after delivering the keynote address to the Build Conference Wednesday, April 2, 2014, in San Francisco.
Image: Eric Risberg/Associated Press

Microsoft posted solid fiscal third-quarter 2014 earnings on Thursday with revenues of $20.04 billion, which was in line with analysts’ estimates and GAAP of $0.68, which beat estimates by a nickel.

“This quarter’s results demonstrate the strength of our business, as well as the opportunities we see in a mobile-first, cloud-first world. We are making good progress in our consumer services like Bing and Office 365 Home, and our commercial customers continue to embrace our cloud solutions. Both position us well for long-term growth,” said Satya Nadella, CEO of Microsoft, in a press release. “We are focused on executing rapidly and delivering bold, innovative products that people love to use.”

The company’s stock was up slightly in after hours trading.

Among the highlights in the quarter:

  • Revenues from the Surface table jumped 50% to $500 million.

  • Office 365 Home now has 4.4 million subscribers, adding about 1 million in three months.

  • The company sold 2 million Xbox units, including 1.2 million Xbox One consoles.

Read more: http://mashable.com/2014/04/24/microsoft-q3-2014/

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Microsoft Beats Earnings Estimates for Fiscal Q3; Surface Sales Hit $500 Milllion

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