Microsoft is generating $2 billion per year in revenue from Android patent royalties, says Nomura analyst Rick Sherlund in a new note on the company.
He estimates that the Android revenue has a 95% margin, so it's pretty much all profit.
This money, says Sherlund, helps Microsoft hide the fact that its mobile and Xbox groups are burning serious cash.
Microsoft has not written a single line of Android code, yet rakes in the profits through scummy software patents. Crime does pay.