Microsoft Corp announced quarterly revenues this afternoon. Investors received the news with a mixed reaction (the stock is down in after hours trading). The company posted growth in most areas but offered little visibility on the success of Surface or Windows Phones.
Microsoft said it made $6.38 billion in net income on revenue of $21.46 billion. Like Apple this week, revenues missed expectations. However earnings per share beat analysts’ consensus estimates.
As reflected immediately above, the following are the divisional revenue results:
- Windows Division: $5.88 billion (24 percent increase vs. last year)
- Server & Tools: $5.18 billion (9 percent increase)
- Online Services (including Bing/Advertising): $869 million (11 percent increase and a smaller loss vs. last year)
- Business Division: $5.69 billion (10 percent decrease)
- Entertainment and Devices: $3.77 billion decrease (down 11 percent)
Microsoft said that online advertising revenue grew 15 percent, “driven by an increase in revenue per search.”
Microsoft said it had nearly $70 billion in cash and cash equivalents. Earlier this week, Apple reported roughly $137 billion in cash on hand.