Microsoft has ended its financial year with revenues up 31% and net income up 54%, but has repeated its warning that things are going to slow down.
Full year revenue hit $11.36 billion (#6.7 billion) year on year, while net income leapt to $3.45 billion from $1.71 billion in 1996. Fourth quarter earnings growth was even better at $1.06 billion, up a staggering 86% on the $559 million reported for the same period last year.
But Mike Brown, Microsoft's chief financial officer, warned: "Microsoft has enjoyed two incredible years, due to the success of its 32-bit products.
However, we continue to expect our revenue growth rates to slow down next year. As they used to say back on the farm, next quarter just ain't going to be like this one was."
The UK has become an increasingly important market for Microsoft. Over the last 12 months the company has invested u60 million in the European Research Labs at Cambridge university. Software sales in the UK have been strong said UK managing director, David Svendsen: "We have achieved 35% overall growth in our business since July 1996." Svendsen noted that Microsoft NT and BackOffice have sold particularly well.
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