Microsoft cloud growth continues through strong financials

27 October, 2017, 00:52 | Author: Rolando Keller
  • Microsoft earnings: 84 cents a share vs 72 cents EPS expected

Microsoft hit a new milestone in its cloud services business this quarter: it's now able to project over $20 billion in annual revenue.

Microsoft Corporation (NASDAQ:MSFT) FQ1 2018 earnings were released after closing bell tonight, and the company posted earnings of 84 cents per share, a 17% increase from last year, on $24.5 billion in sales, a 12% year-over-year increase. Azure commands an impressive 90 percent revenue increase from this time past year and income from its office products has gone up as well. Productivity revenue, mainly Office software, climbed 28 percent to $8.2 billion.

Microsoft Corp reported a better-than-expected quarterly profit on Thursday as demand for its cloud computing services for companies rose and its personal computer software business stabilized.

"Our results reflect accelerating innovation and increased usage and engagement across our businesses as customers continue to choose Microsoft to help them transform", said CEO Satya Nadella in a statement. Windows commercial products and cloud services up 6% due to annuity revenue growth.

Microsoft's shares had risen almost 27 percent this year through Thursday, eclipsing the 14.4 percent gain in the broader S&P 500 .SPX .

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The software and cloud giant's shares rose about 4 percent in after-hours trading as a result.

"We have been impressed by solid execution and strong customer adoption of Microsoft's cloud applications and platforms", KeyBanc analyst Brent Bracelin wrote.

Microsoft beat analyst expectations, which predicted $23.56 billion in revenues. This quarter, those numbers turned around as Surface revenue grew 12 percent. Windows commercial licensing and cloud services revenue increased by 7 percent.

Microsoft didn't break out specific revenue figures for the devices, but noted that Surface revenue gained 12% in the quarter. With no new console on sale, revenue is sure to be hard to come by as the company looks to invigorate its smaller user base into more digital transactions. In advertising, Microsoft reported a 15 percent revenue increase - excluding traffic acquisition costs - which the report says is driven by higher revenue per search and search volume.

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