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Microsoft results show a better quarter than expected

By Joey Gardiner

Published: 19 July 2000 13:21 GMT

Microsoft's results for the quarter ending 30 June comfortably beat analysts estimates, with profits up nine per cent on the previous year.

However, the good results were due to a massive increase in investment income, to compensate for operating profits down almost $400m.

The software giant also reported year end figures showing profits up $1.6bn to $9.4bn on 1999.

Over the past quarter Microsoft earned $0.44 per share, compared to analyst estimates of $0.41 per share.

Microsoft's investment income - up from $485m last year to $1.1bn this - took the spotlight away from the potentially embarrassing fall off in operating profits, down 14 per cent.

John Connors, CFO of Microsoft, said the company was guarded about the growth in revenues based on the sale of PCs, choosing to focus on Windows 2000 server-based products.

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