Microsoft Profits Increase to Over $6 billion in Q3 2013
Microsoft Corp. today announced quarterly revenue of $20.49 billion for the quarter ended March 31, 2013. Operating income, net income, and diluted earnings per share for the quarter were $7.61 billion, $6.06 billion, and $0.72 per share.
However, when you take into account recognition of revenue related to Microsoft’s Windows 8 upgrade offer, things look a bit different. Adjusted revenue of $18.8 billion is only up eight percent over the year-ago quarter. As for its Windows division, it’s a similar story — revenues of $5.7 billion are up 23 percent year-over year, but adjusted revenues to the upgrade offer take into account lower revenues to $4.6 billion (flat year-over-year). At the end of the day, however, Microsoft had a healthy quarter — total net income for the quarter was $6.06 billion, up 18.5 percent year-over-year.
Microsoft also announced that CFO Peter Klein will be leaving at the end of June after four years in his current role and nearly 11 with the company. The company says it will name a new CFO from its financial team within the next several weeks. “It has been a pleasure to work with Peter as CFO,” CEO Steve Ballmer said in a statement. “He’s been a key member of my leadership team and a strategic advisor to me, and I wish him the very best.”