Microsoft cloud annualized run rate passes $20 billion

27 October, 2017, 00:53 | Author: Yolanda Murray
  • Microsoft CEO Satya Nadella at the Geek Wire Summit

Despite doom and gloom about its platforms, Microsoft had no problem impressing investors and analysts this quarter, generating earnings of $0.84 per share, well beyond the $0.72 per share analysts were expecting.

The company reported a total of $24.538 billion in revenue, which is a 12% (11% in constant currency) increase from previous year, which was $21.928B.

Gaming revenue was down 1 percent, as Microsoft prepares for the launch of the Xbox One X console on November 7.

Something Microsoft can be proud of is the report that the company exceeded its goal of $20 billion in annualized revenue run rate for its commercial cloud business, which includes Azure cloud, the Office 365 productivity suite and Dynamics 365, the company's enterprise resource planning and customer relationship management tool.

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Microsoft shares rose 3.4 percent to $81.40 in extended trading following the report, after closing at $78.76 in NY.

Today, Microsoft released the results of its first quarter 2018 fiscal year earnings and the company's core competencies are up across the board with the software giant seeing gains in its Intelligent Cloud Business revenue up 14% YoY to the tune of $69 billion.

Microsoft handily beat analysts' expectations for the first quarter of its fiscal year, as its quarterly profit rose 16 percent on the strength of its commercial cloud business.

"Our results reflect accelerating innovation and increased usage and engagement across our businesses as customers continue to choose Microsoft to help them transform", said CEO Satya Nadella in a statement. This quarter, those numbers turned around as Surface revenue grew 12 percent.

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More Personal Computing: Revenue was $9.4B and down 1% in constant currency.

Operating income was $7.7 billion and increased 15%. As for the Xbox division, revenue increased by only 1 percent, Xbox software and services revenue growth saw an increase of 21 percent offset by lower hardware revenue.

While the Azure cloud platform is included in this number, Microsoft sadly doesn't break out Azure revenue numbers.

The technology giant's net income rose to US$6.58b in the first quarter, from US$5.67b a year earlier.

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