Microsoft Posts Record Revenue and Income for Fiscal 1998
Redmond, Wash., July 16, 1998 – Microsoft Corp. today announced record revenue and income for the fiscal year that ended June 30, fueled in part by strong early sales of Windows 98, which was released on June 25. Microsoft reported revenue of $14.48 billion for fiscal year 1998, a 28 percent increase over the $11.36 billion reported last year. Net income totaled $4.49 billion and earnings per share were $1.67.
Revenue for the quarter ended June 30, was $4.0 billion, a 26 percent increase over the same quarter in fiscal 1997. Net income for the quarter was $1.36 billion, and earnings per share were $0.50, an increase of 25 percent compared to the $0.40 earned during the same quarter last year.
“A great year for all of our major products was capped by strong initial results from Microsoft Windows 98,” said Greg Maffei, chief financial officer. “In particular, customer enthusiasm for Office 97 reinforced its position as the leading productivity suite for business use.”
“We are pleased to announce today that more than one million retail licenses of Windows 98 Upgrades have already been purchased in North America since the product’s June 25th release,” said Brad Chase, vice president, Windows marketing. “Even more encouraging is the strong customer satisfaction, with 9 out of 10 Windows 98 home users stating they are satisfied with the product, as measured by an independent market research firm.”