The company that makes Windows has done it again, posting a net income of $1.06 billion, up a whopping 86% from the same quarter one year ago. Microsoft beat Wall Street projections again, making 80 cents per share, compared to the 79 cent estimate. Revenues rose 41% to $3.18 billion.
Microsoft attributed the results to increased demand for Windows 95 and strong sales of Office 97. As usual, the company cautioned that growth will slow in the future.
"Microsoft has enjoyed two incredible years due to the success of its 32-bit products, however we continue to expect our revenue growth rates to slow down next year," Microsoft Chief Financial Officer Mike Brown said.
This earnings period marks the end of the fiscal year for Microsoft, which finished $11.36 billion in the black for the year, a 31% increase over the previous year. A year ago, Microsoft stock hung steady at $60. Today, the stock is worth $148 on NASDAQ. A $1000 investment in Microsoft made in 1986 would be worth $180,000 today