Microsoft report record annual revenues
Big smiles on the faces of Microsoft executives in Redmond today; their latest earning calls has revealed not only record quarterly earnings, but record annual ones too.
Microsoft reported yearly revenue of $69.94 billion and $23.15 billion net income.
However, it’s a bittersweet day for Microsoft, as it also sees their earnings fall further behind rivals Apple. Despite solid Xbox 360 and Office sales, Apple revenues are roughly $30 billion greater than Microsoft’s at $100.32 billion in the last four quarters, though profits are closer at just $23.61 billion for Apple.
Likewise, Microsoft’s online presence took a battering too. Bing and MSN sales were up by 16.5% to $662 million, but losses also increased to $728 million.
It’s going to be a massive year for Microsoft, what with the launch of Windows 8. Their traditional dominance in the operating system market is increasingly under pressure with the rise of Chrome and tablets running Android or iOS. With PC sales predicted to be lower than usual by Intel, Microsoft’s touch-ready Windows 8 has to pull out all the stops.