[Am-info] Microsoft financials

[Gene Gaines]

Microsoft Shares Are Down 3.3%
By BLOOMBERG NEWS

Published: July 24, 2004

Shares of Microsoft fell yesterday after a drop in investment
income caused fourth-quarter profit to miss analysts' forecasts.
The company said lower returns would hurt profit this year.

The shares fell 97 cents, or 3.3 percent, to $28.03, in Nasdaq
trading. Microsoft said Thursday that profit before an
options-related expense and a tax gain was 28 cents a share,
missing the 29-cent average prediction of 31 analysts.

Fiscal 2005 earnings will miss forecasts because returns on
investments will fall, Microsoft said. The company is shifting
part of its $60.6 billion in cash to short-term securities that
offer lower yields ahead of a $75 billion dividend payout and
share buyback.

Profit for the quarter ended June 30 rose 81 percent, to $2.69
billion, or 25 cents a share, including the options costs and a
tax benefit. A year ago, the company earned $1.48 billion, or 14
cents, when it had costs from lawsuits and higher options
expenses. Sales rose 15 percent, to $9.29 billion.