After a dismal quarterly earnings from Google Inc (NASDAQ:GOOG), International Business Machines Corp.(NYSE:IBM) and Intel Corporation(NASDAQ:INTC), finally Microsoft Corporation(NASDAQ:MSFT)’s investors have something to cheer about as the company reported a better than estimated first quarter earnings.
The company posted first quarter EPS of 65 cents, topping analysts’ estimate by 9 cents. Revenue came in at $17.36 billion, surpassing analysts’ target of $16.42 billion. In a year ago quarter, the company had a profit of 68 cents a share on revenue of $17.37 billion.
“The launch of Windows 8 is the beginning of a new era at Microsoft,” said Steve Ballmer, chief executive officer at Microsoft. “Investments we’ve made over a number of years are now coming together to create a future of exceptional devices and services, with tremendous opportunity for our customers, developers, and partners.”
The Server & Tools business reported $4.55 billion in first-quarter revenue, an 8% increase year over yar, The Microsoft Business Division posted $5.50 billion in first-quarter revenue, a 2% decrease from the prior year period.
The Windows & Windows Live Division posted revenue of $3.24 billion, a 33% decrease from the prior year period.
Microsoft reaffirms fiscal year 2013 operating expense guidance of $30.3 billion to $30.9 billion.
However, shares of MSFT are down 1% in after hours trading.