Microsoft announces revenue for first quarter

Microsoft today announced its revenue for the quarter ended September 30, 2003.

The company announced revenue of $8.22 billion for the quarter ended Sept. 30, 2003, a six percent increase over $7.75 billion in the prior year.

Operating income for the first quarter was $3.15 billion, compared to $3.03 billion reported in the prior year. Net income and diluted earnings per share for the first quarter of fiscal year 2004 were $2.61 billion and $0.24, which included equity compensation expense of approximately $680 million (after-tax) or $0.06 per share.

For the previous year, net income and diluted earnings per share were $2.04 billion and $0.19, which included a charge for investment impairments of $291 million (after-tax) or $0.03 per share and equity compensation expense of approximately $702 million (after-tax) or $0.06 per share. Prior year operating income, net income, and earnings per share have been retroactively adjusted to reflect the adoption of fair value expense accounting for equity based compensation under SFAS 123.

The full earnings release and all of the related financials are available at

http://www.microsoft.com/msft

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