Microsoft reported Q2 sales that surpassed the $50 billion mark for the first time due to cloud, gaming, and Windows software, according to a press release by Microsoft on Tuesday.
- The total revenue of the company in Q2 jumped 20% to $51.7 billion. That was a slight easing from the 22% increase posted in Q1. Second-quarter revenue was forecasted to be $50.9 billion on average.
- The Washington-based software maker also posted impressive net income results of $18.8 billion or $2.48 per share against an analysts’ estimate of $2.32.
- Commercial cloud sales in the quarter expanded 32% to $22.1 billion. Intelligent Cloud sales, comprising of Azure and server software, expanded to $18.3 billion.
- Microsoft’s Azure business has grown significantly to solid No.2 behind Amazon.com Inc in the market for cloud infrastructure services.
Even though cloud revenue has been rising rapidly, Microsoft faces intense competition for big contracts from Amazon.com Inc and Alphabet Inc’s Google. MSFT up +4.02%, Pre-market trading