Microsoft beats analysts’ estimates on the continued strength of the growing cloud platform, which saw Azure revenue soar by 51%, according to a report by Microsoft on Tuesday.
- Microsoft’s quarterly revenues rose by 21% to $46.2 billion. The earnings per share also increased by 49% to $2.17.
- Revenue in Productivity and Business Processes increased by 25% to $14.7 billion, backed by increase in office commercial and consumer products and cloud services revenue.
- Revenue in Intelligent Cloud, which Azure program falls under, was $17.4 billion, a 30% increase. Microsoft’s cloud business has been a major driver for its impressive stock performance.
- Chief Executive Officer of Microsoft Satya Nadella revealed the company was innovating across the technology stack to drive new levels of tech intensity across their business.
Good execution in differentiated markets generated growth in commercial cloud and new franchises, including gaming, security, and LinkedIn, which surpassed $10 billion in annual revenues in the last 3 years.
MSFT up 1.64% premarket.