Microsoft’s Earnings Beat Powered by Demand for Cloud Software

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Microsoft  (MSFT) – Get Report traded lower in premarket trading Thursday even after posting better-than-expected fiscal fourth-quarter earnings on demand for its cloud-based software. The Redmond, Washington-company reported earnings of $1.46 a share on a 13% increase in revenue to $38 billion. Analysts expected Microsoft to report earnings of $1.37 a […]

Microsoft  (MSFT) – Get Report traded lower in premarket trading Thursday even after posting better-than-expected fiscal fourth-quarter earnings on demand for its cloud-based software.

The Redmond, Washington-company reported earnings of $1.46 a share on a 13% increase in revenue to $38 billion. Analysts expected Microsoft to report earnings of $1.37 a share on revenue of $36.5 billion.

“The last five months have made it clear that tech intensity is the key to business resilience. Organizations that build their own digital capability will recover faster and emerge from this crisis stronger. We are the only company with an integrated, modern technology stack — powered by cloud and AI and underpinned by security and compliance — to help every organization transform and reimagine how they meet customer needs,” said CEO Satya Nadella said in a press release.

The company’s cloud segment saw a 17% jump in fourth-quarter revenue to $13.4 billion, while its personal computing segment saw revenue jump 14% to $12.9 billion.

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