Microsoft stock jumps after reporting cloud and Windows revenue that beat Wall Street estimates
Microsoftreported quarterly revenue of $43.1 billion on Tuesday afternoon.
- Microsoft's stock price was up nearly 4% in after-hours trading after the release.
- Microsoft doesn't report revenue for its
Azurecloud, but said revenue growth was up 50%.
Here's what the company reported:
- Revenue: $43.1 billion, versus Wall Street expectations of $40.12 billion, according to Zacks. That's up from $36.9 billion during the same quarter last year.
- Earnings: $2.03 per share vs. Wall Street expectations of $1.64 per share.
- Net income: $15.5 billion, up 33%.
The "Productivity and Business Processes" segment - which includes the
Microsoft's overall commercial cloud business - which includes its Microsoft Azure cloud computing business, the Microsoft 365 suite of cloud software applications and other services - reached $16.7 billion in sales for the quarter, up 34% compared to the same quarter last year.Analysts typically watch for the continued growth of Microsoft's cloud business, but the Microsoft Teams chat app is also growing in importance for company leaders and investors alike. Microsoft during its last earnings release in October said Teams daily active users had reached 115 million, but so far has not provided an update. Are you a Microsoft employee or do you have insight to share? Contact reporter Ashley Stewart via encrypted messaging app Signal (+1-425-344-8242) or email (email@example.com).
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