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Microsoft tops 1Q earnings expectations, misses revenue forecasts

REDMOND, Wash. (AP) _ Microsoft Corp. (MSFT) on Thursday reported fiscal first-quarter profit of $4.62 billion.

The Redmond, Washington-based company said it had net income of 57 cents per share. Earnings, adjusted for non-recurring costs, came to 67 cents per share.

The results topped Wall Street expectations. The average estimate of 15 analysts surveyed by Zacks Investment Research was for earnings of 57 cents per share.

The software maker posted revenue of $20.38 billion in the period, which fell short of Street forecasts. Nine analysts surveyed by Zacks expected $21.23 billion.

Microsoft shares have risen slightly more than 3 per cent since the beginning of the year, while the Standard & Poor’s 500 index has stayed nearly flat. In the final minutes of trading on Thursday, shares hit $48.03, a rise of 8 per cent in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on MSFT at http://www.zacks.com/ap/MSFT

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Keywords: Microsoft, Earnings Report, Priority Earnings