Microsoft (MSFT) reported fiscal Q2 earnings exceeding expectations with its cloud services revenue soaring 46%.
Highlights from the release:
- Revenue stood at $51.7 billion versus $50.9 billion expected.
- Earnings per share of $2.48 were reported to exceed expectations at $2.31.
- Intelligent Cloud generated $18.3 billion versus $18.3 billion expected.
- Productivity & Business Processes recorded $15.9 billion in line with expectations.
- More Personal Computing reported $17.4 billion higher than $16.7 billion expected.
- Azure and other cloud services revenue grew by 46%, which was slightly down from the first quarter when Microsoft reported a 50% growth in the category.
Last week, Microsoft announced plans to purchase Activision Blizzard for $68.7 billion. The deal, which is expected to close in 2023 pending regulatory approval, will make Microsoft a gaming juggernaut, with Activision Blizzard’s library of games including “Call of Duty” and “World of Warcraft.”
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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