Software giant Microsoft announced record fourth quarter financial results, building on rising Office and Xbox 360 sales.
The company reported revenue of $17.37 billion, an increase of 8 per cent over last year, for the fourth quarter ending June 30th. Microsoft generated a net income of $5.87 billion in the same period, representing an increase of 30 per cent over last year.
For the entire fiscal year, the company reported revenue of $69.94 billion, an increase of 12 per cent from the last year. Microsoft also announced a net income of $23.15 billion for the fiscal year, an increase of 23 per cent.
“Throughout fiscal 2011, we delivered to market a strong lineup of products and services which translated into double-digit revenue growth, and operating margin expansion,” said Peter Klein, chief financial officer at Microsoft. “Our platform and cloud investments position us for long-term growth.”
The revenue from Microsoft’s Business Division rose by 7 per cent in the fourth quarter and 16 per cent for the entire year. However, Microsoft’s Windows and Windows Live division revenue declined by 1 per cent and 2 per cent over all amidst low PC sales.
The company’s Entertainment and Devices division, which includes the Xbox 360 console and Kinect, grew by 30 per cent in the fourth quarter and 45 per cent in the entire fiscal year.