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Microsoft profits surge 17%, beating expectations | |
(35 minutes later) | |
Microsoft reported better than expected earnings of $5.2bn (£3.2bn). | Microsoft reported better than expected earnings of $5.2bn (£3.2bn). |
Profits at the technology giant were up 17% from the same period last year. | Profits at the technology giant were up 17% from the same period last year. |
"Our devices and services transformation is progressing," said boss Steve Ballmer in a statement. He added that Microsoft is launching a "wide range" of new products in the coming quarter. | |
The report shed no light on who is to replace Mr Ballmer, who announced plans to retire within the next year. | |
The company has released several new products this quarter, including an update to Windows 8, and recently bought the mobile phone unit of struggling Finnish giant Nokia. | |
Shares rose 6% in after hours trading on the strong results. | |
Surface sales | |
For the first time, Microsoft also announced sales of its tablet computer, Surface. | |
It said revenues from Surface "grew to $400 million with sequential growth in revenue and units sold over the prior quarter". | |
Last quarter, the company was forced to take an embarrassing write down of $900m after sluggish sales. | |
The computer, well-liked by reviewers, marked Microsoft's first foray into hardware manufacturing. | |
However consumers, many of whom expressed displeasure at Microsoft's update to its popular operating system Windows, did not bite. | |
The company still did not provide sales figures of the device. | |
Succession plans | |
Investors hoping for any information about who will replace Mr Ballmer in the new year were disappointed. | |
Earlier today, on a conference call to discuss earnings, Ford boss Alan Mullaly declined to comment on rumours that he was being considered for the top job. | |
Other contenders include Stephen Elop, the former head of Nokia, who resigned as boss after Microsoft announced it would purchase the Nokia's mobile phone unit for 5.4bn euros ($7.2bn; £4.6bn) in September. | |
Mr Elop is now head of Devices and Services at Nokia, although he is expected to transfer to Microsoft - where he was once a top manager - once the deal is completed. | |
Mr Ballmer has been at the helm of Microsoft since 2000, and has been at the company since 1980. |