Profits are rising for the Microsoft Xbox 360
As I was viewing CNN money’s report that Microsoft’s Xbox 360 division is now seeing profits rise at the end of the quarter on Dec. 31, the increased profits totaled to $4.71 billion at 50 cents per share, from the recent $2.63 billion and 26 cents per share last year.
Wow, That is great news, with all the hassles the flux that the Xbox 360 has gone through and the measures they did to cope up with those problem. It is really a time to celebrate and congratulate them for doing a great job.
For the quarter ended Dec. 31, profit increased to $4.71 billion, or 50 cents per share, from $2.63 billion, or 26 cents per share in the same period last year.
Analysts polled by Thomson Financial had forecast a profit of 46 cents per share.
Revenue rose 31 percent to $16.37 billion from $12.5 billion in the year-ago quarter, ahead of the analysts’ prediction of $15.95 billion in sales.
Microsoft revealed that sales from their Xbox 360 and Zune division rose three percent to $3.06 billion and was able to turn a profit. A profit of $357 million. Seeing a profit that high is in stark contrast with last year’s financial numbers which saw the division losing $302 million. So, in effect, the Xbox 360 was able to reverse its losses and go up $650 million year over year. Not bad, especially for a Microsoft division that never saw a dime of profit in the original Xbox days.