The pandemic was beneficial to the tech giant
Another giant company that amazed Wall Street with its earnings is Microsoft.
The company announced a revenue of $38.03 billion, with an EPS of $1.46. It exceeded the EPS of $1.38, with a revenue of $36.43 billion estimated.
Productivity and business processes brought revenues of $11.8 billion, a 6% increase from the same time last year.
Microsoft's cloud computing service, Azure, grew under 50% for the first time and ended the quarter at 47% after the same quarter last year it had an increase of 59%. Still, it had a revenue of $13.4 billion.
The gaming business gained 64% in the past quarter, and the revenue came in at $1.3 billion. The increase was driven by the Xbox hardware – 49%.
Personal computing brought revenue of $12.9 billion as the company saw an "increased demand to support work-, play-, and learn-from-home scenarios.”
Analysts are applauding the company's idea of diversifying its business model, which, in the long-term, could translate into double-digit revenues.
After the report, the stock price lost 2.8%. Since the beginning of the year, shares went up 34%.
Sources: finance.yahoo.com, investing.com
Users/readers should not rely solely on the information presented herewith and should do their own research/analysis by also reading the actual underlying research. The content herewith is generic and does not take into consideration individual personal circumstances, investment experience or current financial situation.
Therefore, Key Way Investments Ltd shall not accept any responsibility for any losses of traders due to the use and the content of the information presented herein. Past performance is not a reliable indicator of future results.