Microsoft Continues to Climb with Cloud and Office Growth in Q3

Microsoft Continues to Climb with Cloud and Office Growth in Q3

Revenue: $26.82 billion, vs. $25.77 billion as expected by analysts, according to Thomson Reuters. In addition to the growth of its cloud business, Microsoft also recorded wins from LinkedIn, which saw revenue increase 37% and Surface revenue increasing 32%. "We delivered double-digit revenue and operating income growth driven by 58% growth in our commercial cloud revenue", said Amy Hood, executive vice president and chief financial officer at Microsoft. While this may seem like no growth, this is likely a good thing as the previous quarter was a holiday season which means there was not a dramatic post-holiday decline in active users.

Microsoft saw its stock fall on Thursday after the company reported better-than-expected earnings for its fiscal third quarter. "We are innovating across key growth categories of infrastructure, AI, productivity, and business applications to deliver differentiated value to customers", he added.

The company reported $3.5 billion in capital expenditures, its highest level yet and up 66 percent year over year.

Net income was $7.42bn, a 35 per cent increase from $5.49bn a year ago.

Personal Computing, which includes Windows, devices, gaming and search ads, produced $9.92 billion in revenue, up 13 percent year over year.

In terms of the divisions, revenue in More Personal Computing was $9.9 billion and increased 13%, the commercial cloud performed strongly during the quarter as well, with Azure recording a revenue increase of 93%. The company now claims 30.6 million subscribers to its Office 365 Consumer subscription base. Gaming revenue grew 16^ driven by the Xbox and third party title strength. During the regular session, Microsoft rose 2.1% to 94.26.

Despite the earnings beat, shares of the company stock fell 1% in after hours trading on the Nasdaq stock exchange. Nadella's cloud-centric campaign has included a major re-org of Microsoft's business units to focus on cloud services.

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