Microsoft’s Windows franchise regained some of its vigor during the company’s latest quarter, but that might not be enough to overcome the perception that the world’s largest software maker is being outmaneuvered by nimble rivals whose fortunes aren’t tied to the personal computer. The results released Thursday were highlighted by a 7 percent increase in revenue that exceeded analyst estimates. The gains for the July-September period occurred throughout Microsoft’s product lineup, which includes the ubiquitous Windows operating system, widely used programs such as Office, the Xbox 360 video game console and the Bing search engine. The company’s earnings for the fiscal first quarter rose 6 percent from last year to match analyst projections. Investors weren’t impressed. Microsoft shares dipped 19 cents to $26.85 in Thursday’s extended trading.
IRS raises 401(k) maximum to $17,000
The Internal Revenue Service is raising the maximum contribution that workers can make to their 401(k) pension plans without paying upfront taxes. The limit will rise by $500 to $17,000 next year. The increase is required by law to adjust for inflation. The ceiling hadn’t grown since 2009 because inflation had been too low to trigger an increase. Companies that set up 401(k) plans for their employees are free to limit maximum contributions at levels below the legal ceiling.
LinkedIn launches Japanese service
LinkedIn Corp. on Thursday launched in Japanese, marking the rapidly growing professional networking service’s first Asian language platform as it pushes to expand in the region. The Mountain View, Calif.-based company also established a Tokyo office, following the opening of its Asia-Pacific headquarters in Singapore in May. Arvind Rajan, head of LinkedIn’s Asia operations, described Japan as a key market for the company because of its technologically sophisticated workforce. LinkedIn has about 120 million members worldwide, with 20 million in Asia and the South Pacific.
30-year mortgage rates nearly flat
The average rate on the 30-year fixed mortgage was nearly unchanged this week after rising sharply last week. Freddie Mac says the rate on the 30-year loan edged down to 4.11 percent from 4.12 percent last week.
Existing home sales fall in September
The number of Americans who bought previously occupied homes fell in September. Home sales are on pace to match last year’s dismal figures — the worst in 13 years. The National Association of Realtors said Thursday that home sales dropped 3 percent last month to a seasonally adjusted annual rate of 4.91 million homes. That’s below the 6 million that economists say is consistent with a healthy housing market.
From Herald news service
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