Hot Xbox 360 Sales Drive MSFT Stock Bump
2011 has been a big year for Xbox 360′s. According to Microsoft’s new quarterly and year-end earnings reports, the console shipped 13.7 million units this fiscal year, 3.6 billion more than last year’s total. Buoyed by this success and the brisk sales of the Kinect motion sensor, the company’s “Entertainment and Devices Division” more than doubled its operating income, raking in a cool $1.32 billion.
Xbox LIVE also had its part to play, helping the division to a 45% increase in overall revenue. This smashing success was only a small part of Microsoft’s overall growth; $17.37 billion in revenue — an 8% increase — set another quarterly record for the Redmond, WA-based behemoth.
With such impressive figures surfacing courtesy of the corporation’s accounting division, an increase in the price of Microsoft stock (NASDAQ: MSFT) is only to be expected. The Xbox 360′s seemingly unflappable sales numbers suggest another logical conclusion: the computing giant will be in no rush to phase out its profitable console, now slightly short of six years old. If you’re one of the few who hasn’t bought one yet, you might consider this nifty Star Wars model. If you’re one of the many who has, Bill Gates thanks you for making him just that much richer.