Recent figures from Microsoft and Apple reveal some interesting changes to how the companies compare financially. Apple's earnings may be closer to Microsoft's than you think.

Apple's PC and server sales still account for a small fraction of the worldwide market. And even if you go by Apple's latest official quarterly earnings, the old perception of scale holds: Microsoft big, Apple small.

Microsoft wins handily. God in in his heaven, all's right with the world, right? Well, it just happens the true power of Apple's Jesus Phone is cloaked by rules of SEC reporting that separate ongoing subscription products from initial hardware purchases.

Let's dump the iPhone numbers into the mix:

Hold the...*ahem*...That's a whole lot closer. Apple's revenue is almost 78 per cent of Microsoft's revenue, but its profit is only 56 per cent.

It's also interesting to see how their coffers compare in 'cash, cash equivalents, and short-term investments' - emergency funds if you will. Under Microsoft's couch is $20.7bn, while Apple has $24.5bn.

There's probably nits to pick in the comparison, but worth noting that Apple really isn't the underdog anymore. How long before Apple catches up completely? ®

Related stories

• Firefox hits 20% share as testers tickle 'pr0n mode' (5 November 2008)
• Microsoft: Malware for Windows on the rise (3 November 2008)
• PDC Windows 7 borrows from OS X, avoids Vista (28 October 2008)
• Microsoft, Apple trumpet bevy of critical vulns (10 October 2008)
• Mozilla security chief: Apple should open up (15 September 2008)
• Microsoft delivers four critical updates (9 September 2008)