Microsoft released their latest financial quarter earnings, which ended on June 30th. Net revenue for the company came at $13.37 billion. All 1337 jokes/puns aside, this is a 13% increase from the same period a year ago. For the entire fiscal year, Microsoft took in $51.12 billion, which is a 15% increase from the same period last year.
Hitting the $50 billion mark, Kevin Turner, COO of Microsoft, took the time to stroke his beard, "Surpassing $50 billion in annual sales is a testament to the innovation and value that our product groups delivered into the marketplace, as well as the outstanding execution by our field sales, marketing teams and partners to bring that value to life with our customers."
As for net income, the company took in $3.04 billion, which is an increase of 7.3% from the same period a year ago. The growth in revenue and income is from "solid customer acceptance of products" and from continual sales of SQL Server, Windows Server, Visual Studio and Xbox 360 consoles.
As previously noted from the expansion of the Xbox 360 warranty from one to three years, Microsoft took a $1.057 billion hit. In addition to that one-time loss, Microsoft announced that their Entertainment and Devices division is still continually losing money. For the quarter, the division lost $1.199 billion, and for the year, it lost $1.892 billion. Microsoft still expects that in 2008, the division will finally start making a profit.
Lastly, the earnings reported that in this past quarter, Microsoft just shipped 70,000 Xbox 360 consoles. This is, obviously, down from the 1.8 million they shipped during the same period last year.
