Microsoft beats profit forecasts, shares jump
Credit: Reuters/Bogdan Cristel
The Microsoft logo is seen at their offices in Bucharest March 20, 2013.
Its shares rose 6 percent in after-hours trading.
The world's largest software company, which is shifting its focus to devices and services, on Thursday posted a profit of $5.2 billion, or 62 cents per share, up from $4.5 billion, or 53 cents per share, in the year-ago quarter.
That smashed Wall Street's average forecast of 54 cents, according to Thomson Reuters I/B/E/S, although analysts had been edging down estimates for the last three months.
Revenue rose 16 percent to $18.5 billion, helped by rising sales of its Office software. Analysts had expected $17.8 billion, on average.
(Reporting by Bill Rigby; Editing by Richard Chang)