Microsoft CFO sees 13-15 pct rev growth in FY'07
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Microsoft Corp. Chief Financial Officer Chris Liddell on Wednesday said the world's largest software company still expected revenue to grow 13 percent to 15 percent for the current fiscal year.
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Microsoft Corp.  said on  Monday that beginning in fiscal 2007 it would report its  financial performance based on five businesses, down from the  current seven operating divisions.
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Microsoft beat Wall Street expectations for both revenue and EPS (earnings per share) for its fiscal 2008 second quarter, attributing its strong quarter to sales of core client products, such as Windows Vista and Office 2007, as well as Exchange and SharePoint server software.
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CIOs surveyed last month predicted that IT spending would grow by only 6.7% during the next 12 months, down from the 8.4% growth rate they predicted in November, according to the latest CIO Magazine Tech Poll released today.
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Microsoft Corp. (MSFT.O: Quote, Profile, Research) on Thursday posted higher quarterly earnings as revenue rose 12 percent, but its shares fell after the world&#39;s
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Microsoft CEO Steve Ballmer and Chairman Bill Gates each took home just over $900,000 in pay last year, a slight increase from last year, according to documents filed Monday with the Securities and Exchange Commission.
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Microsoft&#39;s financial chief said this week that the software giant is more likely to make big acquisitions than it has been in the past.
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As earnings reports rolled in from technology bellwethers, including Microsoft, Apple, Nokia, and Motorola, worries about the economy continued to overshadow good news this week.The fourth quarter of 2007 was strong for IT sales, but a downturn in the U.S. economy, which many analysts fear is slipping into recession, is undermining investor confidence in the sector. Share prices of technology companies have dropped since the start of the year, with the Nasdaq Composite Index sinking to pre-2007 levels.Microsoft provided some cheer Thursday, reporting a strong quarter for core products such as Windows Vista and Office 2007. Revenue for the quarter increased 30 percent year over year to $16.37 billion.Just as important as many market observers fear the U.S. is entering a recession that will affect technology, Microsoft also raised its forecast for its fiscal year, which ends June 30. Noting that Office and video game sales are doing better than expected, the company said it expects revenue for its fiscal year in the range of $59.9 billion to $60.5 billion. Three months ago, the forecast was $58.8 billion to $59.7 billion.The report, however, provided only a momentary uptick in Microsoft shares and the Nasdaq, even though other news on the software front was good.Enterprise database vendor Sybase, for example, said Thursday that it had its first billion-dollar sales year in seven years, helped by a 15 percent jump in revenue for the fourth quarter to $295.2 million. What&#39;s more, its forecast for this quarter remains strong.&quot;We have a balance in our product portfolio and a balance geographically as well,&quot; said company Chief Marketing Officer Raj Nathan.Though Sybase has a stronghold in the financial vertical market -- a sector that is in trouble -- Nathan pointed out that the company is strong in the telecom arena as well, does about 50 percent of its business outside the U.S., and is developing new analytics products that will help financial companies manage risk and do program trading.The company was one of the few that ended the week on a happy note with its share price increasing by $0.56 to close Friday at $27.44.Other companies did not fare so well, as investors jumped on any scrap of bad news.&#160;Apple got hit hard even though it reported quarterly revenue of $9.6 billion, a whopping 35 percent year-over-year increase. Investors were spooked about slowing iPod sales and a weak forecast for this quarter. iPod shipments of 22.1 million were about 10 percent below what had been expected.Apple shares plunged, dropping from $161.36 last Friday to $130.01 this Friday.Motorola had a rough week, reporting Tuesday an 84 percent plunge in income for the fourth quarter&#160;to $100 million and warning that its market-share losses would continue as the U.S. market -- the company&#39;s cell-phone stronghold -- continues to slump until next year. Company shares dropped $2.27 to hit $10.05 Wednesday on the news, and stayed below $11 through the week.&quot;Management&#39;s view of [a] recovery being a 2009 event pushes the recovery further past the horizon most investors are willing to hear at this point,&quot; said Citigroup Global Markets in a research report.Nokia, with hit products and a strong presence in Asia, on Thursday reported a 44 percent rise in profit for the fourth quarter, to &#8364;1.84 billion ($2.7 billion), on a 34 percent sales increase. A slump in U.S. sales was more than offset elsewhere. Nokia shares jumped Thursday on the news, rising $4.05 to close at $36.48 -- and then fell right back down Friday after IDC issued a report that suggested Nokia&#39;s confidence in 2008 was misplaced.In an economy that has investors focusing on the bad news, it&#39;s going to take some evidence of strong sales in the current quarter to bring confidence -- and tech share prices -- back up to where they were. The Nasdaq finished 2007 up by 9.8 percent, but in the first four weeks of this year, last year&#39;s gain has been wiped out with the index closing Friday almost 300 points down from the end of December.
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For Microsoft Corp. shareholders, the holidays will likely come early this year in the form of a one-time &#36;3 dividend that's part of the company's plan to return some of its &#36;64.4 billion cash horde back to shareholders. But Microsoft won't hand out the cash unless shareholders allow the company to alter its stock compensation plans, so employees who hold stock options and stock awards aren't hurt by the dividend payout.
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The software giant's CFO says a target as big as SAP is less likely, but some big buys could be in Microsoft's future.
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NEW YORK, October 22  - Microsoft Corporation (MSFT.NAS) has projected its current quarter sales below the Wall Street expectations, since the company&#39;s customers are likely to delay some contract agreements.
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Microsoft Corp. said its fiscal first-quarter earnings rose 11 percent, beating analysts' expectations, as the company benefited from stronger-than-expected computer and server shipments.
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Microsoft Corp. has announced revenue of $9.19 billion for the quarter, a 12% increase over revenue of $8.22 billion for the same period in the prior year.
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Strong sales of new and old products alike led Microsoft to its fastest first-quarter growth in seven years with the company reporting growth in all five business segments and both revenue and EPS (earnings per share) that beat analyst expectations.Revenue for the fiscal quarter ended Sept. 30 was up 27 percent at $13.76 billion compared to $10.81 billion a year ago, Microsoft said Thursday. Consensus estimates from Thomson First Call analysts were for the company to generate revenue of $12.57 billion. Microsoft&#39;s EPS for the quarter was $0.45, which also soundly beat Thomson First Call consensus estimate of $0.39. Net income for the quarter was $4.29 billion, a 23 percent increase over the $3.48 billion reported a year ago.At $5.92 billion, operating income for the quarter also had double-digit percentage growth: An increase of more than 25 percent over operating income reported for the same period last year of $4.47 billion.Microsoft&#39;s first quarter was buoyed by the highly anticipated launch of the Xbox 360 game Halo 3 on Sept. 25, just days before the quarter&#39;s close. In its first 24 hours on sale, the game brought in $170 million in sales; it became the fastest selling video game in history after being in the market for just a week and a half, according to the company.Strong performances from Microsoft&#39;s client, business, server and tools, and online divisions also contributed to revenue growth in the quarter. In particular, Microsoft said sales of its Windows Vista OS experienced double-digit growth through multi-year business contracts, and demand for Microsoft Office, Windows Server, and SQL Server was also high.Looking ahead, Microsoft said it expects to report revenue in the range of $15.6 billion to $16.1 billion for its second quarter, which ends Dec. 31. Operating income is expected to be in the range of $5.9 billion to $6.1 billion, while diluted EPS are expected to be between $0.44 to $0.46 for the second quarter, the company said.For its fiscal year 2008, Microsoft expects revenue in the range of $58.8 billion to $59.7 billion and operating income in the range of $23.3 billion to $23.7 billion. Diluted earnings per share are expected to be between $1.78 and $1.81 for the fiscal year, the company said. These new numbers were increases in Microsoft&#39;s guidance for the year from previous forecasts of $56.8 billion to $57.8 billion in revenue and $1.69 and $1.73 in EPS for the year.On a conference call Thursday, Microsoft CFO Chris Liddell said the company raised its financial guidance for the year due to improved outlooks for Microsoft&#39;s client business, its server and tools operation, and the Microsoft Business division.Sales of Vista seem to be on an uptick, and the fact that many long-term contracts Microsoft has with enterprise customers were up for renewal during the quarter helped fuel some of the revenue growth for the OS. Liddell expects that although companies have signed up for Vista in their contracts, many won&#39;t adopt it until the arrival of Vista Service Pack 1, expected in the first calendar quarter of 2008.&quot;It&#39;s still early days&quot; for Vista adoption, he said.Though analysts on the call gave Microsoft kudos for the quarter, there was still criticism about the performance of Microsoft&#39;s Online Services Division (OSD), the home of Microsoft&#39;s search and online advertising business. Revenue for the division grew only 25 percent year over year despite the close during the quarter of&#160;Microsoft&#39;s $6 billion acquisition of digital services agency aQuantive, a company expected to fuel growth in online advertising revenue.Liddell acknowledged on the call that this kind of growth for OSD is &quot;acceptable, but not stellar,&quot; saying, &quot;we&#39;d like to see it higher.&quot;This story was updated on October 25, 2007
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(InfoWorld) - Software giant Microsoft is focusing on selling to global technology manufacturers with a software suite it promoted at a Silicon Valley forum on Thursday. Microsoft showed off 2007 versions of its Office software suite for business functions, SQL Server database management system, Office SharePoint Server program for project collaboration and other products at its first-ever Global High Tech Summit in Santa Clara, California. Microsoft hopes to grab a piece of a growing market for IT spending by technology manufacturers next year. Fifty-nine percent of high-tech manufacturers surveyed by AMR ResearchÂ said they planned to increase their IT spending in 2007, averaging a 4.1 percent increase. An earlier survey about 2006 plans had shown only 42 percent planned to increase their spending, and they said they would boost it by an average of just 3.2 percent. Companies have already invested in technology to automate manufacturing processes, but now they are investing to be able to adjust production to changes in demand, said Eric Austvold, research director at AMR, in Boston. "They want to know how you create an agile supply network that ramps up a product to volume [production] quickly," Austvold said. The quicker a company gets a product to market, the more units it can sell. Microsoft is targeting product development, supply chain management, customer relationship management and operational performance, said Kevin Turner, Microsoft's chief operating officer, to about 400 participants at the daylong forum. Microprocessor maker Advanced Micro DevicesÂ uses a variety of Windows-based software in its chip fabrication plants and will upgrade to the new Vista operating system when it becomes available next year, said Tom Sonderman, director of automated precision manufacturing technology for AMD, in Sunnyvale, California. "Once we get Vista and get into 64-bit computing, you begin to raise the bar on the things we can do," said Sonderman. "There is an ongoing desire for us to have more computing power in the fab." Also at the event, Microsoft and IntelÂ jointly proposed anÂ open, interoperable industry standardÂ for document sharing based on the Office Open XML formats. The two companies presented the proposal to RosettaNet, a technology standards group. The Microsoft-Intel standard conflicts with one promoted by Adobe Systems. "They pushed Adobe aside with this announcement," said AMR's Austvold. "Adobe has been doing this already with a proprietary standard. This announcement trumps that and says, 'We [Microsoft] have got a standard we think is more open,' [although] I think thatâs debatable."
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The firm may finally post net inflows this year.
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BREAKING NEWS - In early numbers from Microsoft prior to its quarterly financial results call to analysts this afternoon, the company reported revenue gains of 27% annually to $13.76 billion, and net income nicely higher by 23% annually to $4.29 billion, in what the company is calling its fastest first quarter of growth since 1999.