| Bill Gates hits profits against tuberculosis The world's largest software developer Microsoft Corp. set a new financial record. Last Friday the corporation reported that in the second quarter of the 2005/06 financial year its net profit increased by 5% compared with the same period last year. Thanks to strong sales of personal computers and corresponding high demand for software products, Microsoft earned $3.65 billion (or $0.34 per share).
As Reuters notes, profit growth was largely facilitated by the launch of the new Xbox 360 gaming console, whose sales volumes coincided with analysts' forecasts. Some of them noted that recently doubts have arisen among shareholders about the accuracy of expert predictions. In particular, the head of the Buffalo Funds, Bill Kornitzer, notes that he and many of his colleagues, Microsoft portfolio investors, were wary of experts' expectations being too high. "The report brought a greater sense of relief," he said. Following the release of the financial report, Microsoft raised its forecast for the full fiscal year: the corporation now expects earnings in the range of $1.28--1.31 per share instead of 1.26--1.30 previously expected, and income by level of 44--44.5 billion dollars.
The market assessed the successes of the computer conglomerate with restraint. In over-the-counter trading on Friday, Microsoft shares rose only 2% to $27.01 per share.
On the same day, it became known that the international company “World Plan to Fight Tuberculosis” received $600 million from Bill Gates. This investment even exceeded the fine previously imposed by the European Commission for the corporation’s use of antitrust tactics. The main goal of the organization, which is supported by more than 400 different societies and companies around the world, is to save 50 million people over the next ten years. The total cost of the program is estimated at $56 billion. Presenting the new plan along with British Treasury Secretary Gordon Brown and Nigerian President Olusegun Obasanjo, Bill Gates said it was “a chance to save 14 million lives.” Previously, the billionaire had already transferred $300 million for these purposes, the BBC reports. Denis UVAROV |
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