Apple Beats Microsoft in First Quarter Profit
Six months ago, Apple surpassed Microsoft in quarterly revenue for the first time in nearly 15 years, marking a milestone on Apple's tremendous performance in recent years. But despite being passed by Apple in the revenue metric, Microsoft continued to hold off Apple in quarterly profits due to the high profit margins achievable with its software business.
That finally changed this past quarter, with Microsoft today announcing net profit of $5.23 billion for the first calendar quarter (third fiscal quarter) of 2011. Apple last week reported profits of $5.99 billion over the same period, which corresponded to the company's second fiscal quarter of 2011.
Apple has passed its longtime rival Microsoft in a number of metrics over the past year, beginning with market capitalization back in late May 2010. Apple's market cap is now nearly $100 billion higher than Microsoft's.
Top Rated Comments
But who has the strongest dad? :rolleyes:
ROFL! I totally see what you're saying. Why can't people just avoid fanboyish behavior? Both companies make some great products. Both companies make bad products too. *shrugs*
"Microsoft reported strong third-quarter sales and earnings, as the software giant weathered slowing PC sales with strong performances from its Office and Xbox businesses.
Net income in the company's fiscal third quarter climbed 31 percent to $5.23 billion on sales of $16.43 billion, a 13 percent gain.
"We delivered strong financial results despite a mixed PC environment, which demonstrates the strength and breadth of our businesses," Microsoft's chief financial officer, Peter Klein, said in a statement. "Consumers are purchasing Office 2010, Xbox, and Kinect at tremendous rates, and businesses of all sizes are purchasing Microsoft platforms and applications."
Read more: http://news.cnet.com/8301-10805_3-20058406-75.html#ixzz1Kqvp0N71"
Just because Apple's profit was higher doesn't dispel the end for Microsoft or Google. Every company in American except one made less profit that Apple, and trust me, they aren't all "doomed or Dead"....
Grow up Mr. Lawyer!
Wow! Really! No need to be afraid, we can all get along. There is space for everyone here.
Yes I am. And fairly new to Apple (switched to Mac in 2006 and iPhone in 2007).
Does being new here mean that I have to learn how a corporation that just recorded at record net income of $5.23 billion is "DEAD"? If so, please enlighten me.
I have worked in finance for 35 years and only hold a Bachelors degree in Buisiness, but I'm sure from your response that you (and others here) know more about business than me. So please explain how the earnings report is an indication of impeding doom.... I'm always willing to learn from a group of experts!
This pretty much sums it up.