Microsoft's cash pile isn't what it used to be
Seattle PI | at | by Mike
Microsoft, legendary for its large piles of cash, isn't keeping nearly as much of it around these days.
Of course, everything is relative, and the company won't be scrounging for change under Bill Gates' couch cushions anytime soon. But the $29 billion on hand at last count was less than half the cash and short-term investments held by Microsoft about two years ago.
It's the first time in more than five years that its cash balance has been below $30 billion.
The company's products, led by Windows and Office, are still generating large amounts of cash -- about $1 billion a month. But Microsoft has taken a series of steps to reduce its cash balance. Specifically, by Microsoft's count, the company has paid out nearly $100 billion through dividends and repurchasing its own stock in the past five years.