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Microsoft Reports Stellar Quarter, Fueled By Cloud Earnings
Microsoft has reported its results for the quarter ending September 30, and it was good news for the company and its cloud business.
Like many tech companies, Microsoft’s business has seen significant growth as a result of the coronavirus pandemic and the move to remote work. Its cloud business, in particular, has seen stellar growth.
The company reported revenue of $37.2 billion, representing a 12% increase over the year-ago quarter. Operating income came in at $15.9 billion, an increase of 25%, while net income increased 30% to $13.9 billion.
Office 365 Commercial revenue grew some 21%, driving Office Commercial products and services revenue up 9% as a whole. Similarly, Dynamics revenue was up 19%, with Dynamics 365 up 38%.
“The next decade of economic performance for every business will be defined by the speed of their digital transformation,” said Satya Nadella, chief executive officer of Microsoft. “We are innovating across our full modern tech stack to help our customers in every industry improve time to value, increase agility, and reduce costs.”
“Demand for our cloud offerings drove a strong start to the fiscal year with our commercial cloud revenue generating $15.2 billion, up 31% year over year,” said Amy Hood, executive vice president and chief financial officer of Microsoft. “We continue to invest against the significant opportunity ahead of us to drive long-term growth.”
Microsoft’s results illustrate the fundamental shift the pandemic has created, with effects that will last far longer than the cause.
Microsoft Reports Stellar Quarter, Fueled By Cloud Earnings
Matt Milano
from WebProNews https://ift.tt/3kBecOb
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