Microsoft earnings beat analyst expectations

Microsoft earnings beat analyst expectations

Microsoft earnings beat analyst expectations

The Redmond, Wash. -based company earned 95 cents a share, up 36% year over year, for its fiscal third quarter.

In the fiscal third quarter, analysts on average forecast Microsoft to post GAAP earnings per share (EPS) of $0.85 on revenue of $25.77 billion, up 11% from the year-ago period at $23.2 billion.

Our results this quarter reflect the trust people and organizations are placing in the Microsoft Cloud.

The company had an Operating Income of $8.3 billion with Net Income coming in at $7.4 billion.

This includes $9.92bn, up 13 per cent, year on year, from personal computing stuff: Windows, Surface and similar hardware, gaming, and search ads.

“With consistent investment and strong sales execution, this quarter we achieved better than expected performance across all segments, ” said Amy Hood, executive vice president and chief financial officer at Microsoft.

Despite the earnings beat, shares of the company stock fell 1% in after hours trading on the Nasdaq stock exchange.

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Microsoft's Office 365, an online-productivity service for businesses, is also expected to continue to propel growth at the old-guard tech titan.

Azure's growth has propelled Microsoft to the No. 2 position in the US$15.6 billion cloud computing market with a 14 per cent share, behind AWS's 32 per cent, research firm Canalys estimated in February.

Its Intelligent Cloud business, including the Azure cloud-computing service and server programs such as SQL Server, saw sales surge 17% to $7.896 billion.

Non-Pro revenue continued to slide, now down 8% year on year, possibly indicative of consumers pivoting more and more to other platforms, and Microsoft concentrating increasingly on enterprise customers.

Gaming increased by 18% (16% CC), and that's due mainly to Xbox software and services growth of 24% (21% CC).

Microsoft shares, which are up nearly 40 per cent over the past year, rose slightly after closing 2.1 per cent higher at US$94.26.

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