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27 April 2018, 10:14 | Lionel James
Microsoft Earnings: What to Look For
Microsoft reported third-quarter financial results Thursday that surpassed analyst expectations, once again reporting strong growth in its cloud products.
"Our results this quarter reflect the trust people and organizations are placing in the Microsoft Cloud", Microsoft CEO Satya Nadella said in the press release. Azure had posted an over 90% growth for the past 10 quarters.
Despite the earnings beat, shares of the company stock fell 1% in after hours trading on the Nasdaq stock exchange.
Microsoft shares, which are up nearly 40 percent over the past year, rose slightly after closing 2.1 percent higher at $94.26. Revenue from the Azure cloud platform increased 93 percent year-over-year, while sales from the company's Productivity and Business Process segment (which includes Office and Dynamics) rose 17 percent to roughly $9 billion.
Revenue was up more than 15 percent from the same period previous year, and profit increased 35 percent. "Apple is still playing catch up to that".
With revenue, profits, and capital expenditures up for all of the Big Three cloud computing companies during the first quarter of 2018, it shouldn't be a surprise that the chip company inside almost all those new servers had a nice quarter itself.
The U.S. hi-tech company based in Redmond of the U.S. western state of Washington reported a net profit of 7.4 billion dollars, or 95 cents a share for the third quarter. Analysts surveyed by FactSet had estimated 85 cents a share on revenue of $25.77 billion. At LinkedIn, revenues climbed 37 percent.
Recently Microsoft aquired gaming start-up PlayFab, and it announced a major reorganization that included the departure of Windows and Devices chief Terry Myerson from the company.
Intelligent Cloud hit $7.9B (+15%).
Total revenue in the company's More Personal Computing division, which includes the Windows operating system, rose to $9.92 billion, beating the $9.26 billion average prediction of three analysts polled by Bloomberg.
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