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Microsoft Q1 profit jumps 35 percent on sales of Windows 7
Microsoft bested analysts estimates for first quarter profits, despite a share price decline of more than 3 percent.
April 26, 2010 9:25 by Katherine Azmeh
Tech sector earnings have been strong, particularly in the PC market, according to analysts. But despite a 14 percent rise in the company’s stock price since February, performance of Microsoft share price lagged in comparison to tech leaders, according to a Reuters report in Monday’s Daily Star.
“ Intel Corp and Apple Inc. smashed Wall Street estimates in recent weeks, elevating expectations that Microsoft would do the same,” Reuters said.
Analysts added however, that Microsoft is expected to see its greatest boost as businesses, more than consumers, resume PC purchases, adding that more than 90 percent of the world’s computers utilize Microsoft operating systems.
“The real benefit for Microsoft will be not necessarily when consumers buy PCs but when businesses step up to the plate and start buying PCs, 10,000, 20,000 and 30,000 at a time,” Reuters said, quoting Andrew Miedler, analyst at Edward Jones.