Microsoft exceeds Wall Street expectations
Seattle PI | at | by Mike
Microsoft exceeded Wall Street's quarterly financial expectations Thursday and, perhaps as important, delivered no unwelcome surprises as it gave the first glimpse of what's to come in its next fiscal year.
It was Microsoft's first financial report since the January retail launch of Windows Vista, the new version of its flagship product. Investors were apparently encouraged by the outcome, sending the share price up in after-hours trading.
"You see a little relief here," said Alan Davis, an analyst at D.A. Davidson & Co., recalling a forecast a year ago when Microsoft stunned investors with plans to spend around $2 billion more than many analysts expected.