Microsoft reports higher quarterly profits

Microsoft reported that the company achieved a 2 percent rise in quarterly profit. The increase was driven by sales of new computer server software.

However, the company has decreased their sales forecasts for the end of the year due to weakening economy.

Microsoft reported a net profit of $4.37 billion, or 48 cents per diluted share, in its fiscal first quarter ended Sept. 30 versus a profit of $4.29 billion, or 45 cents per diluted share, in the year-ago period.

Revenue rose 9 percent to $15.06 billion.