Microsoft (MSFT) Matches Revenue Estimates, Azure Grows 93%

by Fredrick Graves April 28, 2017, 1:03
Microsoft (MSFT) Matches Revenue Estimates, Azure Grows 93%

Overall gains in revenue of more than 6% were driven by a 22% increase in Productivity and Business Processes, with a boost from Office consumer products (up 15%) and Dynamics products (up 10%).

Net profit rose 28 percent to $4.8 billion while revenues edged up eight percent to $22.1 billion in the quarter ending March 31, Microsoft said. Going into the earnings report, analysts were primarily focused on Microsoft's cloud business as well as the integration of LinkedIn.

This was the first full quarter in which Microsoft included results from LinkedIn Corp., the professional social network it acquired in December for $27 billion.

As for Azure and Microsoft's other cloud businesses, the revenue was $6.8 billion, up by 11% YoY.

Danish shipping company Maersk said Wednesday it would use Microsoft's loud computing platform, Azure, to develop digital products and services across all brands in the A.P. Moller - Maersk Transport & Logistics division. Diluted earnings per share stood at $0.73 non-GAAP ($0.61 GAAP).

But Microsoft shares slipped in after-hours trading after total revenue came in below expectations.

However, revenue in the company's "more personal computing" business fell 7% to $8.8 billion during the most recent quarter, due to lower phone sales.

Trump tweets don't help: 1st Twitter revenue drop since IPO
Net loss narrowed to $61.6m, or 9c a share, in the first quarter ended March 31, from $79.7m, or 12c a share, a year earlier. Trump's tweets generate headlines on a daily - if not hourly - basis, ensuring Twitter is constantly in the news cycle.

Microsoft has published its latest financial results, covering the third quarter of its 2017 fiscal year (the first quarter of the 2017 calendar year). Server products and cloud services revenue was up 15 percent.

In a statement, CEO Satya Nadella touted momentum in the cloud business.

Analysts had been modeling revenue of $23.65 billion and EPS of 70 cents. There are now 26.2 million consumers subscribed to Office 365.

But revenue from its Surface family of tablet computers slumped 26 percent from a year ago, suggesting more woes for Microsoft's hardware efforts.

The LinkedIn acquisition contributed revenue of $975M. Gaming, on the other hand, saw a rise of 4% YoY with Xbox Live monthly active users rising by 13%.

To the surprise of no-one, it was another awful quarter for Microsoft's phone hardware business, with revenue falling by $730 million.


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