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Microsoft Posts Record Sales, Higher Profit

10/20/2011 04:33:04 PM Eastern

Redmond, Wash. - Microsoft reported record revenue and net income increase in its fiscal first quarter ended Sept. 30.

Revenue was $17.37 billion for the quarter, a 7 percent increase from the same period of the prior year. Net income was $5.74 billion, up 6 percent, while operating income was up 1 percent to $7.2 billion.

"We saw customer demand across the breadth of our products, resulting in record first-quarter revenue and another quarter of solid EPS growth," said Peter Klein, chief financial officer at Microsoft. "Our product portfolio is performing well, and we've got an impressive pipeline of products and services that positions us well for future growth."

Since July, Microsoft reported a number of product and business highlights, including Windows and Windows Live Division revenue was $4.87 billion, a 2 percent increase over the prior period, in line with the PC market. Windows 7 momentum continued with more than 450 million licenses sold since launch.

Windows Phone 7.5 was released with a broad array of new features, and received favorable reviews, the company reported.

Xbox was the top-selling gaming console in the U.S. for the ninth consecutive month. Microsoft added that it also launched the "Gears of War 3" game with over three million copies sold in the first week, and announced plans to roll out the next generation of TV entertainment on Xbox LIVE with nearly 40 content providers starting this holiday season. And Microsoft completed its Skype acquisition.

Microsoft said that in the beginning of the second fiscal quarter its results will include the results of Skype. The company offers updated fiscal 2012 operating expense guidance, including Skype and the associated acquisition-related expenses, of $28.6 billion to $29.2 billion.

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