Microsoft reported 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
Azure cloud, but said revenue growth was up 50%.
Microsoft reported
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%.
Microsoft's stock price was up as much as over 5% in after-hours trading immediately following the release, to around $242 per share.
Microsoft reported $14.6 billion in quarterly revenue, up 23% compared to the same quarter last year, for its "Intelligent Cloud" business, which includes Azure, server products, and
The "Productivity and Business Processes" segment - which includes the
And Microsoft reported revenue for the business unit it calls "More Personal Computing," which includes Windows, search, Xbox and Surface, was $15.1 billion for the quarter, up 14%. Xbox revenue increased 40%, which it attributed in part to an 86% surge in gaming hardware revenue following the release of its new Xbox Series X and Xbox Series S consoles. Revenue for its Surface hardware line, including the Surface Pro tablet/laptop hybrid, topped $2 billion in the quarter for the first time.
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.
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