Microsoft Corporation (MSFT) Q2 Earnings Beat As Business Revenue Soars
02 February, 2018, 00:43 | Author: Harriet Bell
Personal computing is still the highest-performing area of Microsoft's business, generating $12.2bn in revenue, while Intelligent Cloud made $7.8bn and the business productivity unit just under $9bn.
The firm reported $28.9 billion in revenue (GAAP and non-GAAP), a 12% increase over the same quarter past year. Office 365 consumer subscribers also increased to 29.2 million in the quarter.
Microsoft's tax charge lead to a net loss of $6.30 billion, or 82 cents per share, in the quarter ended December 31, compared to a profit of $6.27 billion, or 80 cents per share, a year earlier.
The firm's main hardware product, the tablet-laptop hybrid Surface, saw a revenue increase of 1% on the last quarter.
Microsoft Corporation (NASDAQ:MSFT) reported on its second quarter of fiscal 2018 on Wednesday, posting encouraging results.
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Nevertheless, second-quarter adjusted earnings trumped analysts' estimates as did revenues, driven largely by strong growth in cloud business.
Earnings per share of $0.96 versus $0.86 expected.
Sales of Azure cloud-computing services nearly doubled as businesses increasingly seek to run applications and store data in Microsoft's data centres.
Windows commercial products and cloud services revenue declined 4% due to the impact of an apparent larger deal the company made a year ago. CEO Satya Nadella's continued focus on the importance of cloud also seems to be paying off, with revenue across the Intelligent Cloud division up 15% to $7.8 billion. "Strong execution from our sales teams and partners is driving growth across our businesses", says Amy Hood, executive vice president and chief financial officer at Microsoft. While shares didn't move much in late trading Thursday, they were already up 11% this year, while the Dow Jones Industrial Average, which counts Microsoft as a component, is up 5.8%. Total More Personal Computing revenue grew by 2% (2% CC), with Surface being mainly stagnant at 1% growth (no change in CC), despite the Surface Book 2 being released halfway through the quarter. However, revenue from gaming was up 8% from the 2016 holiday quarter, which Microsoft credits to the launch of the new Xbox One X video game console.
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