Microsoft beats profit estimates on gains from cloud services
Microsoft beats profit estimates on gains from cloud services
Source Johannes Marliem Via Flickr
27 October, 2017, 00:50
Microsoft predicts that it will bring in 83 cents per share in earnings for its current quarter on an adjusted basis.
Total revenue climbed 12 percent as profit rose 16 percent.
Three quarters before a self-imposed deadline to achieve $20 billion in annualized revenue from its commercial cloud products and services, Microsoft announced Thursday that it had achieved that goal. See the full release here. LinkedIn revenue came in at $1.1 billion.
Revenue from Windows, gaming, and other PC businesses was flat overall this quarter, at $9.4 billion. Dynamics products and cloud services revenues increased by 13 percent, driven by Dynamics 365 revenue growth of 69 percent.
Intelligent Cloud: This segment, which includes results from server products and services (including Windows Server and Azure), grew 14 percent to $6.9 billion. Azure gross margins were a "key component" of the 8 percentage point improvement in commercial cloud services from the same period past year, Chief Financial Officer Amy Hood said. Windows commercial licensing and cloud services revenue increased by 7 percent. Although enterprise services revenue increased by 1 percent with growth in Premier Support Services offset by declines in custom support agreements.
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Microsoft beat analyst expectations, which predicted $23.56 billion in revenues.
Revenue has been patchier in personal-computer software and hardware. Notably, Surface sales has gone up for the first time in a long while. This recent period was the first full quarter in which stores were stocked with an update to that product - Microsoft's best-selling Surface - and a totally new category, a laptop computer with a clamshell design.
Surface revenue finally saw some growth, as it had been declining for a while due to the lack of new hardware.
While the Azure cloud platform is included in this number, Microsoft sadly doesn't break out Azure revenue numbers.
The technology company, based in Redmond, Washington, reported net income of US$6.58 billion, or 84 cents per share, up from US$5.67 billion, or 72 cents per share, a year earlier.
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