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Tech giant’s business remains strong

Friday, Oct. 19, 2001 | 9:58 a.m.

Microsoft reported quarterly profits Thursday that surpassed Wall Street's expectations -- ignoring, as most securities analysts do, a big charge for bad investments in telecommunications and cable-television companies.

And Microsoft executives delivered an optimistic outlook for the company's prospects, despite further weakening in the economy and the personal computer business in the aftermath of terrorist attacks on Sept. 11.

Including the $1.24 billion charge, Microsoft had net earnings of $1.28 billion, or 23 cents a share.

Microsoft joins IBM, which reported its results on Tuesday, as a second bulwark in the battered technology sector. Both companies have reported solid quarters.

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