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Microsoft tops expectations with record revenue

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Posted January 24, 2014
A customer looks at a display of Microsoft's next-generation console, the Xbox One at Best Buy in Union Square in New York on No
A customer looks at a display of Microsoft’s next-generation console, the Xbox One at Best Buy in Union Square in New York on November 19, 2013
Microsoft soared to record revenues in the last quarter the company said Thursday, confounding Wall Street forecasts on the back of strong demand for Xbox consoles, Surface tablets and Internet “cloud” services.

The US-based technology titan reported net income of $6.56 billion on revenue that hit a record high of $24.52 billion in the quarter that ended December 31.

“Our Commercial segment continues to outpace the overall market, and our Devices and Consumer segment had a great holiday quarter,” said outgoing chief executive Steve Ballmer.

Microsoft shares climbed more than three percent to $37.25 in after-market trades on the Nasdaq following release of the earnings figures.

“We delivered record revenue as demand for our business offerings remains high and we made strong progress in our Devices and Consumer segment,” Microsoft chief financial officer Amy Hood said in the earnings release.

Sales of Surface tablets more than doubled from the previous quarter to hit $893 million, and Microsoft sold 7.4 million Xbox videogame consoles, with 3.9 million of those being new-generation Xbox One.

Read more at: Phys.org

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