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Microsoft Promotes Sunnier Economic Outlook

Friday, January 25, 2008
By bMighty.com Staff

In news that was good not only for the company itself but for the stock market, Microsoft raised its earnings outlook above Wall Street expectations and reported a 79 percent rise in quarterly profit.

Shares in the technology giant rose 4 percent in regular trade after yesterday's announcement, followed by another 4.5 percent rise in after-hours trading. The news buoyed a stock market that was jittery after somewhat disappointing forecasts earlier this month from Intel and Apple, even after strong actual earnings reports. By contrast, Microsoft not only reported strong earnings, but company CFO Christopher Liddell offered an optimistic outlook: “We have not seen any significant spillover for an economic slowdown in the U.S.”

Source(s): New York Times, Reuters via Yahoo.

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