Investors reward Microsoft
InternetNews | at | by Mike
Stocks had another volatile day on Friday, but Microsoft started the day out higher and spent the whole day that way.
Late Thursday, Microsoft reported quarterly revenues that missed expectations, but investors overlooked that miss to focus on the company's strong guidance of 9%-11% sales growth for the next five quarters.
Microsoft said it sees fiscal fourth-quarter revenues of $10.1-$10.2 billion, and fiscal 2006 sales of $43.3-$44.1 billion, both in-line to above Wall Street expectations, driven by new Xbox and SQL Server products. And after that, the company plans new versions of its Windows operating system and Office products.