Cloud computing drives Microsoft revenue up
Microsoft boosted revenue and earnings in the first quarter, driven by growth in its cloud computing business.
The tech giant reported a revenue increase of 14 per cent to $33.1bn in the three months to 30 September, while operating income increased 27 per cent to $12.7bn.
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Net income was $10.7bn and increased 21 per cent, and diluted earnings per share increased 21 per cent to $1.38.
The company’s Azure cloud computing platform reported growth of 59 per cent and the firm’s intelligent cloud business, which includes Azure, increased revenue by 27 per cent to $10.8bn.
Yesterday Microsoft announced a three-year deal with software company SAP to help move its large business customers move processes to the cloud.
Microsoft chief executive Satya Nadella said: “The world’s leading companies are choosing our cloud to build their digital capability.
“We are accelerating our innovation across the entire tech stack to deliver new value for customers and investing in large and growing markets with expansive opportunity”.
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Microsoft’s productivity and business processes division reported revenue of $11.1bn, an increase of 13 per cent.
Meanwhile, the personal computing business also took in $11.1bn in revenue, an increase of four per cent.