Accordingly, the company’s revenue increased by 15 percent in the April-June period compared to the same period last year, reaching $64.7 billion. Microsoft had earned $56.2 billion in revenue in the April-June period of last year. The company’s revenue exceeded market expectations in this period.
Microsoft’s net profit also increased by 10 percent to $22 billion in the same period. The company’s net profit was $20.08 billion in the same period last year. The company’s earnings per share increased from $2.69 to $2.95 in the same period. Microsoft’s profit also exceeded market expectations in the period.
Cloud revenue growth falls short of expectations
The company’s Smart Cloud revenue increased by 19 percent to $28.5 billion in the April-June period compared to the same period last year, but did not meet market expectations.
The company’s revenue from Azure and other cloud services increased by 29 percent during this period. The increase in Azure and other cloud services, which was 31 percent in the previous quarter, was below market expectations.
Microsoft CEO Satya Nadella, in his assessment of the company’s balance sheet, stated that the company’s strong performance reflects both its innovation and customers’ trust in Microsoft.
“As a platform company, today we are focused on meeting our customers’ mission-critical needs across our platforms at scale, while ensuring we lead the age of AI,” Nadella said.
Source: www.dunya.com
