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To: Mohan Marette who wrote (73255)	10/20/1998 8:18:00 PM
From: jhg_in_kc	Respond to of 176387

FYI Microsoft, IBM Up In Late Trading As Earnings Top Estimates NEW YORK (Dow Jones)--Shares of Microsoft Corp. (MSFT) jumped in late trading Tuesday after the software giant posted fiscal first-quarter earnings well ahead of analysts' expectations. Microsoft posted operating net income of 56 cents a share, compared with restated net income of 36 cents a year ago. A First Call Corp. survey of 20 analysts had called for earnings of 49 cents in the first quarter ended Sept. 30. Microsoft said revenue growth of its Office 97 has slowed, but the product continues to post strong results and customer adaptation of Windows NT Workstation is "at an all-time high." The company also said demand was stronger than forseen because of the success of Windows 98 in Japan and Europe. Microsoft was surprised by the strength of its Asian operations. Microsoft stock recently traded at 102 3/4, up from its close of 100 1/4, down 2 11/16, or 2.6%. International Business Machines Corp. (IBM) stock also gained some ground after hours, before becoming unavailable for late trading, after the company posted some above-views earnings of its own. IBM said it earned $1.56 a share in the third quarter, beating both its year-ago earnings of $1.35 a share and a First Call view of $1.53. The computer company's chairman credited "strong revenue and earnings growth and substantial improvement across nearly all parts of our product line." IBM changed hands at 137 15/16 after the bell, adding slightly to its regular-session finish of 137 7/8, down 1 7/16, or 1.0%.