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From the News Desk
Friday, 20. July 2007
Microsoft, Google Post Weaker-than-Expected Quarterly Reports
The revenues of two of the world’s top IT firms Google and Microsoft have dipped despite their strong sales. While Google’s revenue soared in the second quarter, as the Web-search giant continued to ride the online advertising boom, higher expenses weighed on net income, producing below expectation results.
Mountain View, California based Google said traffic to its own Web sites accelerated during the quarter and drove strong advertising revenue growth there. Google reported a second-quarter profit of USD 925.1 million, or USD 2.93 a share compared with USD 721.1 million, or USD 2.33 a share, in the same quarter last year.
Revenue climbed 58 per cent to USD 3.87 billion from USD 2.46 billion in the year earlier period. Excluding commissions paid to partners, Google said revenue was USD 2.72 billion, up more than 60 per cent from USD 1.67 billion a year earlier.
On the other hand, Google’s arch rival, Microsoft's fiscal fourth-quarter profit rose 7 per cent despite committing a massive amount of money to fix defects in Xbox 360 video-game consoles.
The Redmond, Washington based software-maker said that its earnings for the three months ended June 30 rose to USD 3.04 billion, or 31 cents a share, from USD 2.83 billion, or 28 cents a share, during the same period last year.
Excluding charges to fix faulty Xbox, Microsoft would have earned 39 cents a share.
Revenue rose 13 percent, to USD 13.37 billion from USD 11.80 billion last year.
Mountain View, California based Google said traffic to its own Web sites accelerated during the quarter and drove strong advertising revenue growth there. Google reported a second-quarter profit of USD 925.1 million, or USD 2.93 a share compared with USD 721.1 million, or USD 2.33 a share, in the same quarter last year.
Revenue climbed 58 per cent to USD 3.87 billion from USD 2.46 billion in the year earlier period. Excluding commissions paid to partners, Google said revenue was USD 2.72 billion, up more than 60 per cent from USD 1.67 billion a year earlier.
On the other hand, Google’s arch rival, Microsoft's fiscal fourth-quarter profit rose 7 per cent despite committing a massive amount of money to fix defects in Xbox 360 video-game consoles.
The Redmond, Washington based software-maker said that its earnings for the three months ended June 30 rose to USD 3.04 billion, or 31 cents a share, from USD 2.83 billion, or 28 cents a share, during the same period last year.
Excluding charges to fix faulty Xbox, Microsoft would have earned 39 cents a share.
Revenue rose 13 percent, to USD 13.37 billion from USD 11.80 billion last year.
