Microsoft Crosses $80 On Top- And Bottom-Line Q1 Beat
27 October, 2017, 01:04 | Author: Janis Wilson
Revenue from Microsoft'sintelligent cloud business rose almost 14 per cent to US$6.92 billion in the first quarter ended September 30.
Analysts surveyed by S&P Global Market Intelligence expected the company to report $23.6 billion in revenue and 72 cents in adjusted earnings per share.
Revenue from Azure was up 90 percent year over year, and commercial revenue for Office 365 subscriptions was up 42 percent. For those keeping score at home, Microsoft's commercial cloud rollup includes Azure; Office 365 business services (Exchange Online, SharePoint Online, Skype for Business Online, Microsoft Teams); Dynamics 365; and its Enterprise Mobility + Security Suite (EMS). Azure commands an impressive 90 percent revenue increase from this time past year and income from its office products has gone up as well.
Microsoft's fiscal first quarter earnings beat Wall Street expectation on both the top and bottom lines.
"Our strong start to the fiscal year reflects the impact of our continued investment in product innovation and sales capacity to capture expanding market opportunities", said Amy Hood, executive vice president and chief financial officer at Microsoft.
On average, 25 analysts polled by Thomson Reuters expected earnings of $0.72 per share for the quarter. Microsoft did say that revenue from Xbox software did go up by 21 percent, so it seems that current owners are spending some money on the platform at least.
The stock further gained $2.91 or 3.69% in the after-hours trade.
Microsoft said its commercial cloud annualized revenue run rate reached $20.4 billion in the quarter.
More Personal Computing: Revenue was $9.4B and down 1% in constant currency. His efforts have helped win over customers like Bank of America Corp. for Azure, No. 2 behind Amazon.com Inc.in the biggest part of the cloud market, and internet-based Office 365 workplace tools. Profit for the quarter climbed to $6.6 billion from $5.7 billion in the first quarter previous year. Search ad revenue excluding traffic acquisition costs grew 15%, and Surface revenue rose 12% driven by Surface Laptop sales.
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