Microsoft's' fourth quarter beats analyst projections by $1 billion
21 Juillet, 2019, 02:30 | Auteur: Auguste Feret
Microsoft Corp estimates for fourth-quarter profit and revenue, pushed by continued sales growth from its cloud business and sending its shares to all-time highs.
As of now Microsoft is the biggest tech company in the world if you go by its $1.04 trillion valuation.
The commitment to consoles by longtime contenders in the market comes with the rise of video games hosted as subscription services streamed Netflix-style from data centers in the internet cloud, which plays to Microsoft's cloud and Xbox strengths.
Overall, it was a strong quarter for Microsoft and their earnings growth has pushed their stock higher.
The key to Microsoft's success was its strong cloud growth, which has been the company's primary focus since Chief Executive Officer Satya Nadella (pictured) took the top job in 2014.
While all areas of Microsoft's business were up this quarter, the main question leading up to the release was how well its cloud division would perform.
Microsoft also reported a 39 percent increase in commercial cloud revenue, to $11 billion. Alphabet Inc.'s Google and China's biggest tech companies are vying for their share. Eleven analysts surveyed by Zacks expected $32.7 billion.
Azure revenue grew by 64%, with Microsoft's entire Intelligent Cloud business bringing in $11.4 billion in revenue, seeing a 19% increase.
The deal is not exclusive, with AT&T free to utilise other cloud providers alongside Azure - a point it highlighted with a seperate deal with IBM yesterday that will involve cloud migration.
It also said revenue for professional social network LinkedIn, which Microsoft acquired in 2016, jumped by 25%.
Microsoft continues to please its investors as it recorded increases in cloud, Surface and Windows revenues in its latest financials, but xBox sales disappoint.
Microsoft has reported the financial results for the quarter ended June 30, 2019, revealing that the performance in this fourth quarter helped it achieve a record fiscal year. Revenue generated by Office Commercial products, however, declined by 17% as more customers are switching to the cloud-based services.
Surface revenue has grown by 14%, totalling $1.3 billion.
Mike Spencer, head of investor relations at Microsoft, said Windows results were fueled by customers upgrading from Windows 7, which will be retired next year, and the result of some PC customers stockpiling inventory in anticipation of possible tariffs.
"Microsoft needs to keep investing in its products to maintain the momentum", Mueller said.
Microsoft's legacy software and videogame business is flourishing.
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