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To: KyrosL who wrote (47558)	4/21/2000 7:37:00 AM
From: Jan A. Van Hummel	Respond to of 99985

Wait for the other shoe to drop. Without the benefit of generous investment gains second qtr earnings will be looking quite a bit different.

To: KyrosL who wrote (47558)	4/21/2000 8:05:00 AM
From: Benkea	Read Replies (2) \| Respond to of 99985

KyrosL: "$885 million of MSFT's $2.39 billion quarter profits, was from investment gains. Without the investment gains, MSFT's operational profits were $1.5 billion, or 20% lower than last year. That's the real story." Yal know I love to make noise about the BS we see in most earnings reports from the "new era" in the "new economy" companies, but your statement above is incorrect. MSFT's pre-tax income grew to $2,728 bil from $2,229. You forgot that while the realized $885 mil in investment gains, they had $720 mil in the same quarter a year ago.