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Microsoft Corp. said that its net income surged 48 percent in the most recent quarter, the latest sign that businesses are again spending money on technology.
Microsoft’s results were stronger than Wall Street had expected.
Big businesses stopped replacing aging computers, servers, and software during the worst of the recession. Microsoft makes the majority of its money from selling Windows software for PCs and servers, plus Office and other business software.
Windows sales ballooned in the quarter, particularly in copies for businesses. That helped Microsoft’s net income jump to $4.52 billion, or 51 cents per share.
Revenue rose 22 percent to $16.04 billion.
Shares of the Redmond, Wash., company fell 3 cents to $25.81 in extended trading after the release of results.
2d-quarter income higher at Amazon
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Amazon.com Inc. said yesterday that its second-quarter income jumped, bolstered by shoppers who spent more with the online retailer even as consumer confidence fell overall.
But the Seattle company’s earnings fell below analyst expectations, and its stock dove in after-hours trading.
For the period, Amazon.com Inc. earned $207 million, or 45 cents per share. That is a 45 percent increase from $142 million, or 32 cents per share, in the same quarter last year.
Analysts had expected 54 cents per share.
Revenue climbed 41 percent to $6.6 billion.
Revenue increased 46 percent in North America to $3.6 billion, and 35 percent to $3 billion elsewhere.
As usual, Amazon did not provide details about sales of its Kindle e-reader, which was joined in the second quarter by a formidable competitor, Apple Inc.’s iPad.
Earlier this week, Amazon did say that Kindle sales have risen since it cut its price in June. In an effort to push more Kindle sales, Amazon dropped the price of the Kindle by $70, to $189.
Optimistic 3M lifts guidance for year
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3M Co., which makes everything from Post-its to films for flat-screen TVs, said it is optimistic about the pace of the global economic recovery and raised its full-year outlook yesterday.
The Maplewood, Minn., company, considered an economic bellwether because of its broad base of products, also said net income rose 43 percent for the quarter ended in June. Its positive outlook, along with rosy forecasts from UPS, AT&T, and Caterpillar, helped boost the stock market.
For the second quarter, 3M’s revenue rose 17.7 percent, with most of the growth in Asia (up 42 percent) and Latin America and Canada (21 percent.) US sales rose 9 percent, and sales in Europe rose 4 percent, held back by the weak euro.