Microsoft (MSFT) Higher After Results And 'Not So Bad' Guidance

Shares of Microsoft (Nasdaq: MSFT) are up 3% after reporting better than expected Q1 results, and giving guidance that, while slightly lower than analysts estimates, was better than what many investors had expected from the software giant.

Microsoft reported Q1 EPS of $0.48, 1 cent better than the analyst estimate of $0.47. Revenues for the quarter were $15.06 billion, versus the consensus of $14.78 billion.

Microsoft said it sees Q2 EPS of $0.51-$0.53, versus the consensus of $0.55 and revs of $17.3-$17.8 billion, versus $18 billion. Sees FY08 EPS of $2.00-$2.10, versus the Street estimate of $2.11 and revs of $64.9-$66.4 billion, versus the consensus of $66.5 billion.

Shares of Microsoft closed at $22.32 Thursday, and is currently trading at $23. The 52-week range is $20.65-$37.50.

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