Microsoft up after Q1 beats, achieves $20B Cloud goal
27 October, 2017, 00:52 | Author: Devin Moran
Microsoft predicts that it will bring in 83 cents per share in earnings for its current quarter on an adjusted basis. Profit for the quarter climbed to $6.6 billion from $5.7 billion in the first quarter past year.
Under Satya Nadella, Microsoft has been transforming itself and focusing more on cloud-based services as PC shipments continue to drop.
More than three years ago, Microsoft promised to reach an annualized revenue of $20 billion in its corporate cloud business by the end of its 2018 fiscal year (ending in June 2018). This can be broken down to $8.238B in Processes, $6.922B in Intelligent Cloud, and $9.378B in Personal Computing, seeing growth of 28% (28% in CC), 14% (13% in CC), and 0% (-1% in CC), respectively. LinkedIn revenue of $1.1 billion for the quarter was flat sequentially.
Azure sales rose 90 percent.
Microsoft ended the quarter with 28 million Office 365 consumer subscribers, up from 27 million from the previous quarter. In the previous quarter, Microsoft said its run rate exceeded $18.9 billion and that Azure revenue growth was 97 percent. LinkedIn contributed revenue of $1.1 billion.
As for Windows, revenue from companies putting Pro versions of the operating system on devices was up by 4 percent. Windows commercial products grew by 7%, or 6% in constant currency.
On the Xbox front, Microsoft says hardware revenue declined significantly - due to lower pricing and fewer sales - but overall revenue still ticked up ever so slightly thanks to increased Xbox Live transactions.
Surface revenue increased by 12 percent driven by sales of the new Surface Laptop. Google was rewarded by a similar share price increase, being up 3.13% in after-hours trading at the time of writing. In 2015, a year after being named the company's CEO, Satya Nadella said he wanted Microsoft to hit that target sometime in 2018 - a big jump up from the $6.3 billion business it was back then.
Revenue from Microsoft's intelligent cloud business rose almost 14 per cent to US$6.92 billion in Microsoft's fiscal first quarter, ended 30 September. The rest is a 2% (2% in CC) increase in server revenue.
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MONDAY: Showers will be possible through Midday Monday, but by the afternoon and evening we should turn into mostly sunny skies. However, tomorrow will be the last day of temperatures in the 70s for quite some time as a major pattern change takes shape.
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