Microsoft Revenue Rises
Revenue rose 8 percent to $7.84 billion for the quarter ended March 31, 2003, over the $7.25 billion in revenue posted for the same year-ago period.Microsoft Corp. on Tuesday reported an 8 percent rise in revenue to $7.84 billion for the quarter ended March 31, 2003, over the $7.25 billion in revenue posted for the same year-ago period. Revenue growth was driven primarily by unearned revenue from strong multi-year licensing in prior periods, but was offset by a 42 percent fall in revenue from its Home and Entertainment division, which includes the Xbox video game system; PC games; consumer software and hardware; and its TV platform, the company said in a statement released Tuesday afternoon. Operating income grew 13 percent to $3.72 billion over the March quarter from the $3.3 billion reported in the prior year. Net income for the quarter came in slightly higher at $2.79 billion in the period from $2.74 billion the previous year, with diluted earnings a share of $0.26 in the March quarter.
John Connors, Microsofts chief financial officer, said in a statement that the environment remains tough, cautioning that there is "obviously a great deal of economic uncertainty ahead." This mirrors the sober picture he painted of the global economy in January.