Microsoft Crosses $80 On Top- And Bottom-Line Q1 Beat

Microsoft Crosses $80 On Top- And Bottom-Line Q1 Beat

Notably, however, Google managed to overtake Microsoft both in revenue and profit, generating $6.7 billion in profit on $27.7 billion revenue.

Microsoft returned $4.8 billion to shareholders during its first fiscal quarter through dividends and share buybacks.

Microsoft also unveiled revenue of $24.54 billion, which was almost $1 billion more than the $23.56 billion that Wall Street had projected, according to Thomson Reuters. In 2015, a year after being named the company's CEO, Satya Nadella said he wanted Microsoft to hit that target sometime in 2018 - a big jump up from the $6.3 billion business it was back then. LinkedIn contributed revenue of $1.1 billion. In the previous quarter, Microsoft said its run rate exceeded $18.9 billion and that Azure revenue growth was 97 percent.

Following the Microsoft FQ1 2018 earnings release, the company's stock surged in after-hours trades, climbing by as much as 2.51% to $80.74.

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Intelligent Cloud revenue rose 14% to $6.9 billion, including a 17% increase in server products and cloud revenue and a 1% increase in Enterprise Services revenue.

Microsoft Corp reported a better-than-expected quarterly profit on Thursday as demand for its cloud computing services for companies rose and its personal computer software business stabilized. That's in large part to the continued growth of Microsoft's cloud business.

"A slowly improving PC environment is also a modest tailwind for Microsoft with cloud remaining the Trojan horse growth driver for Redmond over the coming years". Revenues in More Personal Computing segment, which includes Windows operating system, was relatively unchanged at $9.4 billion. Microsoft did say that revenue from Xbox software did go up by 21 percent, so it seems that current owners are spending some money on the platform at least. Thursday reported an increase in profit for the first-quarter that trumped analysts' estimates, driven largely by strong growth in cloud business, as the software giant continues bank on its rapidly growing cloud business. Surface revenue was up 11% thanks to the new Surface Laptop and Gaming was flat on the year since the new Xbox didn't report in this quarter.

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