Microsoft posted better-than-expected earnings

By: Miguel A. Rodriguez

09:45, 14 September 2020

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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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