⁍ Daily users of its Teams messaging and collaboration software have risen to 115 million from 75 million in April.
⁍ Microsoft’s revenue rose 12% to $37.2 billion in the quarter ended Sept. 30, beating analysts’ estimates of $35.72 billion.
– Microsoft shares fell 1.8% in after-hours trading Thursday after the company reported better-than-expected quarterly earnings. The company’s revenue rose 12% to $37.2 billion, beating analysts’ estimates of $35.72 billion, reports the Wall Street Journal. Microsoft’s net income rose 30% to $13.89 billion, or $1.82 per share, from $10.68 billion, or $1.38 per share, a year earlier. Microsoft shares were down 1.8% in after-hours trading, following a rise of 1.5% during the day. Analysts had expected a profit of $1.54 per share. Microsoft bundles several sets of software and services such as Office and Azure into a “commercial cloud” metric that investors watch closely to gauge the company’s progress in selling to large businesses. “It was another healthy quarter, with continued demand for remote offerings continuing to power results,” Microsoft Chief Financial Officer Amy Hood tells Reuters. Revenue growth for Azure, the company’s flagship cloud computing business, was 48%, up 1 percentage point from the previous quarter and ahead of Wall Street estimates of 43.45%, according to consensus data from Visible Alpha. Hood said the rise in the fiscal first quarter ending in September was driven by “an increase in larger, long-term Azure contracts.” “Microsoft’s strong earnings beat shows its market share in cloud computing is expanding while its legacy software products such as Windows and Office are in great demand during the pandemic,” an analyst at Investing.com tells Reuters.
Source: https://www.reuters.com/article/microsoft-results-int/microsoft-beats-sales-estimates-as-azure-growth-ticks-upward-idUSKBN27C2Z1