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VOL. 37 | NO. 16 | Friday, April 19, 2013

Microsoft 3Q earnings beat Street

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NEW YORK (AP) — Microsoft says revenue and net income surged in the latest quarter, but much the gains were due to the recognition of sales that occurred before the launch of the latest versions of Windows and Office.

The software company's net income was $6.1 billion, or 72 cents per share, in its fiscal third quarter, which ended in March. That was up from $5.1 billion, or 60 cents per share, a year ago, and beat the forecast of analysts polled by FactSet, at 68 cents.

Adjusting for deferred revenue and a fine levied by the European Commission, Microsoft Corp. earned 65 cents per share.

Revenue was $20.5 billion, up 18 percent from a year ago and matching analyst forecasts. Adjusted for deferred revenue, it rose 8 percent.