Microsoft cloud push powers ongoing growth | HT Tech

Microsoft cloud push powers ongoing growth

Revenue from the company’s flagship Azure cloud computing platform grew 76 %. But the company saw a 5 % revenue hit in Windows software supplied to other PC manufacturers

By: ASSOCIATED PRESS
| Updated on: Jan 31 2019, 11:56 IST
Microsoft’s results topped Wall Street expectations
Microsoft’s results topped Wall Street expectations (REUTERS)
Microsoft’s results topped Wall Street expectations
Microsoft’s results topped Wall Street expectations (REUTERS)

Microsoft's ongoing growth as a provider of cloud computing services helped drive its fiscal second-quarter net income of $8.42 billion, an improvement after a loss in the same period a year earlier.

The Redmond, Washington-based company said Wednesday it had profit of $1.08 per share. Earnings, adjusted for pretax expenses, were $1.10 per share. Shares dipped almost 1.5 % in after-hours trading.

Revenue from the company's flagship Azure cloud computing platform grew 76 %. But the company saw a 5 % revenue hit in Windows software supplied to other PC manufacturers. It attributed the decline in part to a short supply of Intel chips late last year.

Microsoft's results topped Wall Street expectations. The average estimate of 14 analysts surveyed by Zacks Investment Research was for earnings of $1.09 per share.

The software maker posted revenue of $32.47 billion in the period, which also topped Street forecasts. Twelve analysts surveyed by Zacks expected $32.45 billion.

Microsoft shares have risen slightly more than 4 % since the beginning of the year, while the Standard & Poor's 500 index has risen almost 7 %. In the final minutes of trading on Wednesday, shares hit $105.97, an increase of 14 % in the last 12 months.

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First Published Date: 31 Jan, 11:56 IST
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