Microsoft Profits Dip

Officials from Microsoft have announced the company’s quarterly profits, which show a drop in profits but a better-than-expected 17% rise in revenues. Profits for the company were $1.32 billion, or 12 cents per share, for its third fiscal quarter ended March 31, compared with a profit of $2.14 billion, or 20 cents per share, a year earlier. The results included stock compensation expense of $501 million and a $1.89 billion charge related to a settlement with Sun Microsystems and a fine imposed by the European Commission. The company claimed sales for the Xbox remained on track for 14.5 million to 16 million shipments globally by the end of June, with 1 million subscribers to its Xbox Live online gaming service by the same period. Source: Reuters UK