Cost-cutting helps Microsoft beat estimates

Microsoft Corp. posted the only gain in the Dow yesterday. The software maker posted a smaller drop in profit than expected, after slashing costs to make up for falling sales. First-quarter net income fell to $3.57 billion, or 40 cents per share, beating analysts’ estimate of 32 cents. Operating costs fell 6.9 percent after Microsoft made its first companywide firings, slashed travel expenses, and cut the rates it pays vendors.