Microsoft profits up 17%, higher than expected

Microsoft profits up by 17%

Microsoft profits up by 17%

Microsoft profits have been doing well lately, reporting a better-than-expected earnings of $5.2 billion, up 17% from the same quarter last year.

What is even more unexpected is the tech giant reporting how its Surface tablets have been faring in the market lately, claiming the Surface “grew to $400 million with sequential growth in revenue and units sold over the prior quarter”.

Microsoft CEO Steve Ballmer, who has announced retirement within the next year, added that his company plans to launch a “wide range” of new products in the coming months. The tech giant has been churning new products lately, including Windows 8.1 and Surface 2 tablet, as well as acquiring the mobile phone unit of Nokia.

Reports on Microsoft profits were received positively on Wall Street, with shares rising 6% within hours. This comes in contrast last quarter when Microsoft was forced to write down a $900 million loss due to sluggish sales.

Source: BBC

Image source: Peteri / Shutterstock.com

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