Microsoft profits soar as cloud demand continues in pandemic – News 24-7 Live News 24-7 Live
Microsoft profits soar as cloud demand continues in pandemic

Microsoft profits soar as cloud demand continues in pandemic

Microsoft’s profits soared during the first three months of 2021, thanks to ongoing demand for its software and cloud computing services during the pandemic.The company on Tuesday reported fiscal third-quarter profit of $14.8 billion, up 38% from the same period last year.“Over a year into the pandemic, digital adoption curves aren’t slowing down. They’re accelerating, and it’s just the beginning,” CEO Satya Nadella said in a statement.

Net income of $1.95 per share beat Wall Street expectations. Analysts were expecting Microsoft to earn $1.78 per share on revenue of $41 billion for the fiscal quarter ending in March, according to FactSet.The software maker based in Redmond, Washington, posted revenue of $41.7 billion in the January-March period, up 19% from last year.

Revenue from Microsoft’s productivity segment, which includes its Office suite of workplace products such as email, grew by 15% over the same time last year, to $13.6 billion. Its cloud computing business segment grew 23% to $15.1 billion.

News Source: Hindustan times

Leave a Reply

Your email address will not be published. Required fields are marked *

Report News
Google