Business

Microsoft 3Q earnings beat Street

NEW YORK — Microsoft’s revenue and net income surged in the latest quarter, but much of the gains were due to the recognition of sales that occurred before the launch of the latest versions of Windows and Office, the company said Thursday.

The software company’s net income was $6.1 billion, or 72 cents per share, in its fiscal third quarter, which ended in March. That was up from $5.1 billion, or 60 cents per share, a year ago, and beat analysts’ forecast of 68 cents.

Adjusting for deferred revenue and a $733 million fine levied by the European Commission, Microsoft Corp. earned 65 cents per share.

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Revenue was $20.5 billion, up 18 percent from a year ago and matching analyst forecasts. Adjusted for deferred revenue, it rose 8 percent.

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The Redmond, Wash., company’s shares rose 66 cents to $29.45 in extended trading, after the release of the report.

Associated Press