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Microsoft beats 2Q profit forecasts

REDMOND, Wash. (AP) _ Microsoft Corp. (MSFT) on Thursday reported fiscal second-quarter net income of $5 billion.

The Redmond, Washington-based company said it had profit of 62 cents per share. Earnings, adjusted for restructuring costs, came to 78 cents per share.

The results topped Wall Street expectations. The average estimate of 14 analysts surveyed by Zacks Investment Research was for earnings of 69 cents per share.

The software maker posted revenue of $23.8 billion in the period, which did not meet Street forecasts. Nine analysts surveyed by Zacks expected $25.11 billion.

Microsoft shares have dropped 6 per cent since the beginning of the year, while the Standard & Poor’s 500 index has decreased slightly more than 7 per cent. In the final minutes of trading on Thursday, shares hit $52.06, an increase of 26 per cent in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on MSFT at http://www.zacks.com/ap/MSFT

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Keywords: Microsoft, Earnings Report, Priority Earnings