‘Better-Than-Expected’ Financial Results Reported by Microsoft

By Purnendu Karmakar from Wikimedia Commons

Steady growth was reported by Microsoft in its most recent round of financial results as the chief executive of the company praised the performance of its cloud services.

The technology titan reported a revenue amounting to 26.8 billion dollars (£19.2 billion), an increase of 16 percent during the same quarter in 2017.

The net income of the company also rose by 35 percent to 7.4 billion dollars (£5.3 billion).

Satya Nadella, the chief executive Microsoft of who has overseen a shift in the focus of the firm away from hardware including smartphones and towards its cloud and software products such as Office 365, said that the results reflected the faith in the move of the industry.

He stated: “Our results this quarter reflect the trust people and organisations are placing in the Microsoft Cloud.

“We are innovating across key growth categories of infrastructure, AI, productivity and business applications to deliver differentiated value to customers.”

The results of the company revealed commercial revenue growth of 42 percent for the subscription and cloud-based version of Microsoft Office that is called Office 365. It allows businesses to access their files and documents from anywhere.

The number of consumer users of Office 365 also increased, with subscribers rising to 30.6 million.

Amy Hood, the chief financial officer of Microsoft, said that the company had exceeded the expectations for the quarter.

She stated: “With consistent investment and strong sales execution, this quarter we achieved better-than-expected performance across all segments.

“We delivered double-digit revenue and operating income growth driven by 58% growth in our commercial cloud revenue.”