MS quarterly earnings top estimates

Microsoft has reported a modest revenue increase and profit decline in its quarterly earnings with numbers still topping analysts' estimates. For the quarter ending on March 31, the software giant on Thursday reported quarterly revenue of 17.41 billion U.S. dollars, a 6 % increase on a year-on-year basis. Net income and diluted earnings per share for the quarter were 5.11 billion dollars and 60 cents per share, compared with 5.23 billion dollars and 61 cents per share from the same period last year. While more consumers are choosing Apple or Google-powered tablets instead of Windows PCs, Microsoft was expected to report a modest sales increase and profits decline. Analysts polled by Thomson Reuters expect the Redmond, Washington-based company to report earnings excluding items of 57 cents per share, down 7% compared to last year, on revenue of 17.18 billion dollars, up 5 % on a yearly basis. "We're driving toward exciting launches across the entire company, while delivering strong financial results," said Steve Ballmer, chief executive officer at Microsoft. "With the upcoming release of new Windows 8 PCs and tablets, the next version of Office, and a wide array of products and services for the enterprise and consumers, we will be delivering exceptional value to all our customers in the year ahead."