Microsoft reports healthy quarter

Microsoft has reported revenues of $15.06 billion for the first quarter, representing nine per cent growth over the same period last year.

The software giant attributes its healthy growth to sales of business software and Xbox 360 consoles.

However, it has become the latest firm to adjust its forecasts for the next quarter towards a more conservative estimate of $17.3 billion to $17.8 billion, which “reflects a balance of risks and the likelihood of a continued economic slowdown.”

“In a challenging economic environment, the first-quarter results exhibit the strength and diversity of our business model,” commented Microsoft’s CFO Chris Liddell.