Amidst the ongoing credit crunch, the software behemoth Microsoft has managed to report impressive gains in both sales and earnings in its financial results for the first quarter of this year.
Microsoft’s revenues for the first quarter has increased by around 9 percent to stand at USD15.1 billion, as against USD13.8 billion for the same period a year back.
In addition the net income also soared to 48 cents a share to stand at USD 4.37 billion, from 45 cents a share, or USD4.29 billion, thereby registering a rise of 2 percent over the net income figures of the first quarter of the previous fiscal year.
The actual figures are slightly better than the previously projected figures of revenues worth USD14.8 billion and net income of 47 cents per share.
However, as against the same period of last fiscal year, company’s Windows group reported a modest rise of 2 percent in profits and shown a decline of 4 percent.
The current economic recession has also affected the software industry and Microsoft’s CFO, Christopher P. Lidell, has lowered the company’s revenues and profit forecasts for 2009.