October 23, 2009
NEW YORK (RPRN) 10/23/09 — The software giant Microsoft had its biggest one-day jump in stock prices since April of this year, an increase of 7%, despite announcing a net income loss in its first quarter, ending September 30th 2009.
This morning Microsoft released its first quarter earnings, $12.92 billion US in revenues, showing an 18% net income loss compared to the first quarter of 2008. Microsoft posted profits of $3.6 billion, or 40 cents per share, compared to $4.4 billion, or 48 cents per share in 2008.
Following the announcement, Microsoft shares traded on NASDAQ at $29.23 during the morning hours, dropping slightly to $28.14 by the afternoon. Not only the biggest one-day jump, Microsoft stocks hit their highest level since June of 2008 today.
The better than forecasted results were boosted by strong sales of both Windows operating systems and Halo video game. Today’s announcement followed a series of big announcements from the PC giant, including Windows 7 and Bing’s indexing of Twitter and Facebook feeds, positioning Microsoft to make up some of the market ground lost to Mac and Google.
Some information for this report provided by the AP.
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