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
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