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Edition: U.S. Article Comments (0) Slideshow Video Save Email Print Reprints Most Popular Most Shared Australian model Miranda Kerr marries Orlando Bloom 22 Jul 2010 Clintons in tears over Chelsea? You can bet on it 19 Jul 2010 Sarah Palin reported doubtful on Bristol's marriage 21 Jul 2010 Earnings lift Wall Street, but Amazon.com plunges 22 Jul 2010 UPDATE 5-Microsoft profit beats Street, stock unmoved 22 Jul 2010 Obama says USDA "jumped the gun" on Sherrod ouster | Video 22 Jul 2010 Bookies see Europe stocks flat, stress tests eyed 1:06am EDT Whitman sees less as more for California 22 Jul 2010 Oil slips from 11-week high ahead of bank test results 1:39am EDT Analysis: Race issues beset Obama's "post-racial" presidency | Video 21 Jul 2010 No ruling in hearing over Arizona immigration law | Video 22 Jul 2010 India develops world's cheapest "laptop" at $35 2:08am EDT Joss Whedon confirms he will direct "Avengers" 22 Jul 2010 Australian model Miranda Kerr marries Orlando Bloom 22 Jul 2010 California city manager's pension could top $30 million 21 Jul 2010 India develops world's cheapest "laptop" at $35 1:58am EDT Analysis: Asia's budding bankers no longer feel need to go West 21 Jul 2010 Colorado man delivers pizza and saves heart attack victim 21 Jul 2010 Police nab bandit who used underwear as mask 22 Jul 2010 Congressional probe of student loans widens 27 Apr 2007 Microsoft profit beats Street but stock unmoved Digg This Tweet This Share on LinkedIn Share on Facebook Related News Microsoft profit beats Street but stock unmoved Thu, Jul 22 2010 UPDATE 4-Microsoft profit beats Street, stock unmoved Thu, Jul 22 2010 US STOCKS-Earnings lift Wall St, but Amazon.com plunges Thu, Jul 22 2010 US STOCKS-Wall Street rallies on corporate outlooks Thu, Jul 22 2010 Apple forecast beats Street view Wed, Jul 21 2010 Related Topics Technology » iPad » Media » Related Video Amazon misses big, Microsoft shines Thu, Jul 22 2010 The day ahead: July 22, 2010 1 / 2 Packages of the new Windows operating system, Windows 7 sit on a desk before being installed in Golden, Colorado in this October 22, 2009 file photo. Credit: Reuters/Rick Wilking By Bill Rigby SEATTLE | Thu Jul 22, 2010 8:54pm EDT SEATTLE (Reuters) - Microsoft Corp easily beat Wall Street forecasts with a 48 percent rise in quarterly profit, but its shares barely moved in the absence of powerful new signs of a rebound in global tech spending. The world's largest software company said business customers are continuing to come back to the market for new personal computers, about 90 percent of which run on Microsoft's software, but it failed to match chipmaker Intel Corp's strongly optimistic tone last week. Microsoft's stock has rallied in recent weeks, outperforming the Nasdaq composite index. But as Apple Inc has overtaken Microsoft as the world's largest tech company by market value about a month ago, analysts question where growth will come from after Windows 7 and Office 2010 run their course. Microsoft said it sold 175 million licenses for its new Windows 7 operating system since its launch last October, a performance rated solid but unsurprising by analysts. "It's a great quarter -- but does that matter?" said Colin Gillis, analyst at BGC Partners. "We all knew the business refresh cycle was in place. This is the dilemma for Microsoft -- how do they get the stock moving again?" The company, which cut about 5 percent of its work force last year to keep a lid on costs, slightly lowered its operating expense target for the current fiscal year, which started on July 1. It now expects to spend $26.9 billion to $27.3 billion this fiscal year, down from its March estimate of $27 billion to $27.5 billion. PROFIT JUMP Analysts say it may be tough for Microsoft's stock to advance in the short term. Investors are keen to see new phones running Windows Phone 7, Microsoft's attempt to make up lost ground in the mobile sector which will be in stores in the next few months. The company hopes to excite consumers with a range of Windows-powered tablet devices and its untested Kinect motion gaming platform. And its Bing Internet search engine is posting solid market share growth but remains miles behind Google Inc. "It was strong in the areas that we thought they would be strong in, which is more of the business orientated operating systems," said Kim Caughey, senior analyst at Fort Pitt Capital Group, which owns about 431,000 Microsoft shares. But "my hot button as an owner of this stock is, what is their mobile direction?" she said. "Arch rivals Apple and Google seem to have an answer for that. I think the company really has to have an answer for this. I think they have to have a path." Microsoft on Thursday reported fiscal fourth-quarter profit of $4.52 billion, or 51 cents per share, up from $3.04 billion, or 34 cents per share, in the year-ago quarter. That beat analysts' average expectation of 46 cents per share, according to Thomson Reuters I/B/E/S. Sales rose 22 percent to $16.04 billion, beating analysts' $15.27 billion estimate, reflecting the continuing recovery in tech spending this year. The unit that sells Windows led the gains, posting a 43 percent increase in sales to $4.5 billion. The unit represents just over a quarter of Microsoft's sales but more than half of its operating profit. All of Microsoft's five divisions posted higher sales, but two key units saw wider operating losses. The online services unit -- which runs the Bing search engine and MSN portal -- lost $696 million, while the entertainment and devices unit -- which handles phone software and the Xbox -- lost $172 million. Global PC sales surged 22.4 percent last quarter, industry tracker IDC said this week, helped by strong demand from businesses, signaling a strong outlook for Microsoft. "We still believe in the business PC refresh, which is the single biggest thing ongoing throughout this year," Chief Financial Officer Peter Klein said in a telephone interview. He said the new Office 2010 suite of applications, launched earlier this year, was off to a strong start but it was too early to judge the financial impact. He said the current "back to school" quarter should show how well sales are faring. One analyst worried that lower selling prices for the new version of Office could pose a threat to Microsoft's top line. "Last year, the average sales price on Office was $199. This year we're seeing average prices between $124 and $154," said Trip Chowdhry, analyst, Global Equities Research. "In terms of unit sales, I think they are doing fine. In terms of revenue, I think they are not doing fine." Microsoft shares were little changed at $25.69 after closing at $25.84 on Nasdaq. The stock -- which is still hovering around the same level it was five years ago -- is down 15 percent this year, compared with a 1 percent fall in the Nasdaq composite index. (Additional reporting by Jim Finkle; Editing by Edwin Chan and Richard Chang) Technology iPad Media Add a Comment *We welcome comments that advance the story directly or with relevant tangential information. We try to block comments that use offensive language or appear to be spam and review comments frequently to ensure they meet our standards. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. © Copyright 2010 Thomson Reuters Editorial Editions: Africa Arabic Argentina Brazil Canada China France Germany India Italy Japan Latin America Mexico Russia Spain United Kingdom United States Reuters Contact Us Advertise With Us Help Journalism Handbook Archive Site Index Video Index Reader Feedback Analyst Research Mobile Newsletters RSS Podcasts Widgets Your View Labs Thomson Reuters Copyright Disclaimer Privacy Professional Products Professional Products Support Financial Products About Thomson Reuters Careers Online Products Acquisitions Monthly Buyouts Venture Capital Journal International Financing Review Project Finance International PEhub.com PE Week FindLaw Thomson Reuters is the world's largest international multimedia news agency, providing investing news, world news, business news, technology news, headline news, small business news, news alerts, personal finance, stock market, and mutual funds information available on Reuters.com, video, mobile, and interactive television platforms. Thomson Reuters journalists are subject to an Editorial Handbook which requires fair presentation and disclosure of relevant interests. NYSE and AMEX quotes delayed by at least 20 minutes. Nasdaq delayed by at least 15 minutes. For a complete list of exchanges and delays, please click here.

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