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Monday, July 22, 2013

Fourth quarter and full-year results from Microsoft

Microsoft has announced its fourth quarter and full-year financial results.

Quarterly revenue was up 10% year-on-year to $19.90 billion (£13.01 billion), while annual revenue was up 6% to $77.85 billion (£50.91 billion). Net income for the quarter was $4.97 billion - the company reported a loss in Q4 last year - and net income for the year was up to $21.86 billion.

A $900 million (£589 million) charge was written off due to the Microsoft Surface RT tablet, which has recently had its retail price cut in many outlets.

Amy Hood, chief financial officer at Microsoft, said “While our fourth quarter results were impacted by the decline in the PC market, we continue to see strong demand for our enterprise and cloud offerings, resulting in a record unearned revenue balance this quarter. We also saw increasing consumer demand for services like Office 365, Outlook.com, Skype, and Xbox LIVE. While we have work ahead of us, we are making the focused investments needed to deliver on long-term growth opportunities like cloud services.”

Last week the company announced plans to reorganise the way it worked by focussing on function rather than separate divisions.

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Author: The Fonecast
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