"Microsoft reported on Thursday fiscal third-quarter revenue above expectations but saw its earnings dented by the cost of a fine by the European Union and its settlement with Sun Microsystems," reports CNet.
Quarterly revenues grew by 17% from $7.84 billion to $9.18 billion, while profits fell by 38% from $2.14 billion to $1.32 billion after deducting $748 million for "stock-based compensation expenses" and $2.53 billion in legal expences. "Excluding those items, Microsoft would have had earnings of 34 cents per share, ahead of the 29 cent First Call estimate and the company's own predictions."
"Microsoft said its cash and short term investment balance rose to $56.4 billion, up from nearly $53 billion in December and $49 billion a year earlier."
