Microsoft Stock Rises After Beating Profit Forecasts

Maximum PC Staff

Things are going well in Redmond

Microsoft has been doing everything it can to bump up its consumer sales of the Surface tablets and Windows Phones . It seems that the company also made some inroads with its commercial sales, managing a 17 percent increase in profit in the first fiscal quarter—a total of $5.2 billion—according to a report by Reuters .

Windows 8 hasn’t made the biggest splash, but it’s starting to gain ground —even notoriously skeptical Deputy Editor Gordon Ung has come around . Although Microsoft’s devices and consumer business side had a 4 percent increase in revenue, the real star was its commercial business which yielded a 10 percent increase. Analysts had predicted revenues of $17.8 billion on average, and were caught off guard by the 16 percent increase to $18.5 billion. Consequently, Microsoft’s stock jumped to $35.65 from $33.72.

Todd Lowenstein, a portfolio manager at fund firm HighMark Capital told Reuters: "Beating on revenue and earnings handily will boost confidence that the reorganization is pivoting them in the right direction."

Follow Ben on Twitter .

Around the web

by CPMStar (Sponsored) Free to play

Comments