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Microsoft Posts Lower Results; Consumer, Device Sales Up

Redmond, Wash. – Microsoft reported slightly lower results corporately but revenue for devices and consumer products were up in the fiscal third quarter ended March 31. 4/24/2014 12:49:00 PM Eastern

Redmond, Wash. – Microsoft reported slightly lower results corporately but revenue for devices and consumer products were up in the fiscal third quarter ended March 31.

Corporate revenue was $20.40 billion, almost flat year-on-year from $20.48 billion. Net income was $5.6 billion, down from $6.05 billion and operating income was $6.9 billion, down from the prior year’s $7.6 billion.

Microsoft reported that devices and consumer revenue grew 12 percent to $8.3 billion.

Microsoft sold in 2 million Xbox console units, including 1.2 million Xbox One consoles, and Surface revenue grew over 50 percent to approximately $500 million.

Windows OEM revenue grew 4 percent, driven by strong 19 percent growth in Windows OEM Pro revenue. And Office 365 Home now has 4.4 million subscribers, adding nearly 1 million subscribers in just three months.

Microsoft reported that it expects to close the acquisition of the Nokia Devices and Services business on April 25.

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