Microsoft FY18 Q3 earnings: $26.8 billion on cloud and Office growth
27 April, 2018, 10:12 | Author: Samuel Sharp
The net profit leaped 35 percent to Dollars 7.4 billion, with diluted earnings per share up 36 percent to USD 0.95.
Earnings: 95 cents per share, excluding certain items, vs. 85 cents per share as expected by analysts, according to Thomson Reuters. Executives will provide guidance on the earnings call scheduled for 5:30 p.m. Revenues at office commercial products and cloud servicesrevenue increased 14 percent, driven by Office commercial revenue growth of 42 percent.
Microsoft is riding a wave of demand for its Azure cloud services, which let customers run and store applications in the company's data centers.
Revenue in Productivity and Business Processes was $9 billion and increased 17 per cent in the quarter.
Total revenue in the company's More Personal Computing division, which includes the Windows operating system, rose to $9.92 billion, beating the $9.26 billion average prediction of three analysts polled by Bloomberg.
LinkedIn revenues of $1.33bn were up 37 per cent from $976m past year. Windows OEM revenue rose by four percent, while Windows commercial products and cloud services were up 21 percent. Stifel analyst Brad Reback wrote a recent note indicating that the shuffle "sends a strong signal of the supporting, and not leading, role Windows will likely take in coming years and we like the continued emphasis on hybrid cloud and AI".
Shares traded up about 0.3% at $94.50 in after-hours trading.
The company's flagship cloud product Azure, which competes with Amazon.com Inc's dominant cloud infrastructure offering Amazon Web Services (AWS), recorded revenue growth of 93 percent in the third quarter ended 31 March.
The cloud transition is changing the company's business model to one with a rising share of steady, recurring revenue from cloud subscriptions rather than traditional software sales.
Capital expenditures were $3.5 billion in the quarter.
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