Microsoft Announces Record First Quarter Earnings
Brace yourself: Today Microsoft is reporting that it has made a whole lot of money this past quarter, and Xbox 360 is part of the reason. Microsoft's Q1 revenue totaled $16.20 billion, which is 25% more than the first quarter of last year.
Microsoft's chief financial officer Peter Klein had this to say about the record earnings: “This was an exceptional quarter, combining solid enterprise growth and continued strong consumer demand for Office 2010, Windows 7, and Xbox 360 consoles and games...Our ability to grow revenue while continuing to control costs allowed us to deliver another quarter of year-over-year margin expansion.”
The earnings release also reveals that Xbox 360 console sales have increased 38%, outselling the Wii and PlayStation 3 for the past four months in America. It should be interesting to see how the impending release of Kinect affects the company's bottom line in the year to come. In the meantime, you can view the whole earning report for yourself here.