Microsoft's profit up 75% in quarter; strong PC sales cited; cautious forecast given
Article Abstract:
After close of the market yesterday, Microsoft Corp. reported a 75% gain for the second quarter which it attributed to strong sales of personal computers equipped with Windows 98 and Windows NT operating systems. Expectation of such good news sent Microsoft's share price up $5.875 to $155.625. After hours trading saw it rise again to as much as $163.25. The company's predictions for the next quarter are less rosy, factoring in uncertainties about the impact that the Year 2000 bug will have on computer sales and the economic picture overseas. Microsoft has, however, generally outperformed its own forecasts. In a conference call with analysts, Greg Maffei, Microsoft's chief financial officer, predicted a decline in revenue of more than $300 million from that just reported. For the quarter ending Dec. 31st, Microsoft reported earnings of $1.98 billion, up from $1.13 billion a year earlier. Revenue rose 38% to $4.94 billion compared to the $3.585 billion reported for the 2nd quarter of fiscal year 1998. Unearned revenue rose from $3.13 billion in the first fiscal quarter to $3.37 billion in the second. Mr. Maffei remains cautious about future earnings, based on continuing uncertainty about the global economic picture.
Publication Name: The New York Times
Subject: Business, general
ISSN: 0362-4331
Year: 1999
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Oracle posts earnings growth of 21% for its latest quarter
Article Abstract:
Fiscal first quarter earnings for Oracle Corp. were $236.7 million on sales of $1.98 billion. Comparable quarter in 1998 results were $195 million in profits. Database software revenue for Q1 1999 was $443 million, compared to $109 million in Q1 1998. CEO Larry Ellison said Oracle has a 93 percent market share of the Internet-based sales software market.
Publication Name: The New York Times
Subject: Business, general
ISSN: 0362-4331
Year: 1999
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