{"id":4636,"date":"2022-04-27T05:37:53","date_gmt":"2022-04-27T05:37:53","guid":{"rendered":"https:\/\/businessner.com\/?p=4636"},"modified":"2022-05-02T09:15:05","modified_gmt":"2022-05-02T09:15:05","slug":"cloud-services-lifts-up-microsofts-quarter-earnings","status":"publish","type":"post","link":"https:\/\/businessner.com\/cloud-services-lifts-up-microsofts-quarter-earnings\/","title":{"rendered":"Cloud Services Lifts Up Microsoft\u2019s Quarter Earnings"},"content":{"rendered":"

Microsoft<\/a> announced high quarterly results on Tuesday, owing to robust demand for its cloud computing services.<\/p>\n

In the first three months of this year, the IT giant reported a profit of $16.7 billion on revenue of $49.4 billion, up 8% and 18%, respectively, over the same time last year.<\/p>\n

Microsoft also reported profit and revenue for its fiscal third quarter that beat Wall Street expectations, also benefiting from demand for its cloud-based services.<\/p>\n

\u201cGoing forward, digital technology will be the key input that powers the world\u2019s economic output,\u201d Satya Nadella, chairman and chief executive officer of Microsoft said in a statement<\/a>.<\/p><\/blockquote>\n

\u201cAcross the tech stack, we are expanding our opportunity and taking share as we help customers differentiate, build resilience, and do more with less.\u201d<\/p>\n

The Redmond-based software company reported $19 billion in revenue and a $8.3 billion profit in its fiscal third-quarter results report, with its Intelligent Cloud division \u2014 which includes Azure public cloud, SQL Server, and GitHub \u2014 accounting for $19.3 billion in revenue. The same division made a $6.4 billion profit during the same time a year ago.<\/p>\n

\u201cContinued customer commitment to our cloud platform and strong sales execution drove better than expected commercial bookings growth of 28% and Microsoft Cloud revenue of $23.4 billion, up 32% year over year,\u201d said Amy Hood, executive vice president, and chief financial officer of Microsoft.<\/p><\/blockquote>\n

The epidemic has also hastened a trend toward using the internet for work, education, shopping, socializing, and entertainment, with Microsoft appearing to be well-positioned to profit from these lifestyle shifts even when people return to being out and about.<\/p>\n

According to the latest quarter earnings report, Microsoft’s business and productivity sector, which includes its online suite of Office 365 software, saw sales rise by 34% thanks to money brought in by career-focused online social network LinkedIn.<\/p>\n

Aside from the cloud services and LinkedIn, Microsoft’s Xbox video game division also saw a four percent increase in revenue for content and services in the most recent quarter as the firm strives to improve its cloud-based games subscription offering.<\/p>\n

Microsoft is currently seeking regulatory permission for its $69 billion acquisition of Activision Blizzard, a video gaming giant. Microsoft’s acquisition of ailing Activision will make it the third-largest gaming firm by revenue, after Tencent and Sony, according to the company, signaling a huge shift in the expanding game industry.<\/p>\n","protected":false},"excerpt":{"rendered":"

Microsoft announced high quarterly results on Tuesday, owing to robust demand for its cloud computing services. In the first three months of this year, the IT giant reported a profit of $16.7 billion on revenue of $49.4 billion, up 8% and 18%, respectively, over the same time last year. Microsoft also reported profit and revenue […]<\/p>\n","protected":false},"author":4,"featured_media":4637,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_seopress_robots_primary_cat":"","_seopress_titles_title":"Microsoft Announces High Quarterly Results with Strong Demand for Cloud Computing Services","_seopress_titles_desc":"Microsoft reports impressive profit and revenue growth, exceeding expectations with its cloud computing services. CEO Satya Nadella emphasizes the importance of digital technology in driving economic output.","_seopress_robots_index":"","tdm_status":"","tdm_grid_status":"","footnotes":""},"categories":[77],"tags":[],"_links":{"self":[{"href":"https:\/\/businessner.com\/wp-json\/wp\/v2\/posts\/4636"}],"collection":[{"href":"https:\/\/businessner.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/businessner.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/businessner.com\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/businessner.com\/wp-json\/wp\/v2\/comments?post=4636"}],"version-history":[{"count":4,"href":"https:\/\/businessner.com\/wp-json\/wp\/v2\/posts\/4636\/revisions"}],"predecessor-version":[{"id":4689,"href":"https:\/\/businessner.com\/wp-json\/wp\/v2\/posts\/4636\/revisions\/4689"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businessner.com\/wp-json\/wp\/v2\/media\/4637"}],"wp:attachment":[{"href":"https:\/\/businessner.com\/wp-json\/wp\/v2\/media?parent=4636"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businessner.com\/wp-json\/wp\/v2\/categories?post=4636"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businessner.com\/wp-json\/wp\/v2\/tags?post=4636"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}