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Microsoft beats analysts
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October 21, 1996: 6:16 p.m. ET
Strong demand for Windows NT and Windows 95 leads to record earnings
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NEW YORK (CNNfn) -- Microsoft Corp. said Monday profits jumped 22 percent in its first quarter to a record $614 million, buoyed by strong demand for its Windows 95 and Windows NT operating systems.
The company said it earned 95 cents a share on revenue of $2.3 billion. That compares to a profit of 78 cent a share on revenue of $2.02 billion in the same period last year.
Analysts had expected Microsoft to earn 90 cents a share.
"We are pleased with these results," said Mike Brown, chief financial officer. "This quarter, the company posted solid results across a wide range of businesses, including operating systems, personal productivity tools, and enterprise solutions."
Microsoft shipped out the latest version of Windows NT last quarter and demand for the product was high, with 19 percent revenue growth in the U.S. and Canada.
Jeff Raikes, group vice president, sales and marketing, said corporate customers adopted Windows NT servers and workstations in record numbers.
Microsoft closed Monday at $134, down 75 cents a share, on Nasdaq. In after hours trading, Microsoft stock jumped $2.375 to $136.375.
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Microsoft Corporation
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