Microsoft Corp (MSFT) beat Q1 Wall Street earnings estimates reportedly driven by strong demand for its cloud computing products. The company earned $1.82 a share on sales of $37.15 billion in its fiscal first-quarter ending Sept. 30. Analysts expected Microsoft earnings of $1.54 a share on sales of $35.72 billion.
“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. We continue to invest against the significant opportunity ahead of us to drive long-term growth.” stated Chief Financial Officer Amy Hood in the earnings news release.
- Revenue in Microsoft’s Intelligent Cloud segment increased 20% to $13 billion in the September quarter, driven by the Server software and Azure cloud services.
- Microsoft’s Productivity and Business Processes segment including Office 365 productivity software, Dynamics software, and LinkedIn services witnessed revenue growth of 11% to $12.3 billion.
- Revenue in the company’s More Personal Computing segment, led by Xbox video games and Surface computers climbed 6% to $11.8 billion.
- In the December quarter, Microsoft expects to generate sales of $39.95 billion, based on the midpoint of its outlook.
Redmond, Washington-based American multinational technology company Microsoft (MSFT) develops, manufactures, licenses, supports and sells computer software, consumer electronics, personal computers, and related services. To learn more about Microsoft (MSFT) and to track their progress please visit the Vista Partners Coverage Page.
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