Amazon, Microsoft Post Profits; Shares Fall
Seattle-area tech giants Amazon.com and Microsoft reported their earnings for the first three months of 2010 today, and each touted significant increases in profits compared with the same period a year ago. Microsoft (NASDAQ: MSFT) reported a quarterly profit of $4.01 billion, an increase of 35 percent over the first three months of 2009, thanks in part to sales of its Windows 7 operating system. Meanwhile, Amazon (NASDAQ: AMZN) posted a quarterly profit of $299 million, a 68 percent increase over its first quarter of 2009, and said the Kindle e-book reader was its top-selling product. Both companies’ shares fell by a few percentage points after their earnings reports.