Microsoft earnings: 84 cents a share vs 72 cents EPS expected
Net income in the recent period was 84 cents a share, Microsoft said Thursday in a statement.
Commercial cloud revenue was $20.4 billion on an annualized basis, meeting the company's $20 billion target previously set for the fiscal year that started July 1.
Shares in the company, which reported its results after the closing bell on Thursday, inched up nearly 4% to about $81.75 in after-hours trading.
In the Intelligent Cloud unit, made up of Azure and server software deployed in customers' own data centers, sales climbed 14 percent to $6.9 billion, compared with the $6.7 billion average analyst projection. Google was rewarded by a similar share price increase, being up 3.13% in after-hours trading at the time of writing. LinkedIn contributed revenue of $1.1 billion. For those keeping score at home, Microsoft's commercial cloud rollup includes Azure; Office 365 business services (Exchange Online, SharePoint Online, Skype for Business Online, Microsoft Teams); Dynamics 365; and its Enterprise Mobility + Security Suite (EMS).
Revenue from Azure was up 90 percent year over year, and commercial revenue for Office 365 subscriptions was up 42 percent. Microsoft says that's in part due to reduced patent licensing revenue, but it's also due to a $315 million drop in phone revenue, since Microsoft doesn't actually make phones any more.
Productivity and Business Processes: Revenue was up 28% on the year in constant currency to $8.2B.
Microsoft reported revenue of $24.5 billion for the quarter, up almost 12 percent over the same period previous year. Office commercial revenue grew 10 percent, Office consumer revenue was up 12 percent, and Dynamics revenue increased 13 percent.
Surface revenue finally saw some growth, as it had been declining for a while due to the lack of new hardware.
Windows OEM revenue was also up 4 percent and search advertising revenue increased 15 percent. Surface hardware sales jumped 12 percent largely driven by the new Surface Laptop.
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