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Microsoft once again released robust quarterly numbers that fueled investor enthusiasm for the software giant and brought the company close to the $ 2 trillion valuation. Microsoft is taking advantage of the fact that remote work and distance learning have become the norm for many people due to the Corona pandemic. This has led to the rapid adoption of cloud computing services, and has also led to an increase in video game sales.
“More than a year after the start of the epidemic, the curves of digital adoption have not slowed down. They are accelerating,” said Microsoft CEO Satya Nadella.
The Redmond Corporation of Washington State increased its sales in the third fiscal quarter by 19 percent to approximately $ 41.7 billion and made a net profit of $ 15.5 billion in the January-March period. And according to Factst, the results beat Wall Street expectations.
Revenue related to Azure cloud service increased by 50 percent, roughly as in the December quarter. Azure has become a larger source of revenue for the company from its Windows operating system over the past year, according to Piper Sandler analyst Brent Bracelin. Microsoft ranks second in the cloud business space after Amazon. Video game activity has also been particularly strong in light of the pandemic. Xbox content and services revenue increased 34 percent in the last quarter, buoyed by recent launches of two new consoles, the Xbox Series X and S.
On Wednesday, Microsoft stock fell on the Nasdaq: the stock lost 2.83 percent to $ 254.56.
Redaktion finanzen.net / Dow Jones News
More news about Microsoft Corp.
Image sources: Asif Islam / Shutterstock.com, James Marvin Phelps / Shutterstock.com
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