Microsoft announced fourth quarter revenue of $11.80 billion for the period ended June 30, 2006, a 16% increase over the same quarter of the prior year. According the Microsoft, the Mobile and Embedded Devices businesses achieved profitability for the full fiscal year. In addition, licenses for Windows Mobile(R)-based phones grew by 90% in fiscal year 2006.
Microsoft also announced it will repurchase up to $20 billion of its common stock at a price per share not greater than $24.75 and not less than $22.50. This translates to about 808,080,808 shares of common stock, or about 8.1% of the common shares outstanding. OK, what’s the deal with alternating 8′s and 0′s?