Microsoft Corp. today announced revenue of $7.25 billion for the quarter ended March 31, 2002, a 13 percent increase over the $6.40 billion reported in the prior year. Operating income totaled $3.30 billion compared to $3.00 billion in the prior year. Net income for the quarter was $2.74 billion, which includes an $847 million after-tax gain on the sale of Expedia and an $806 million after-tax charge related to investment impairments. Diluted earnings per share for the March 2002 quarter were $0.49, including a $0.15 gain on the sale of Expedia and $0.14 investment impairment charge as noted above.

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