Microsoft profit, revenue beat estimates on cloud growth

Microsoft quarterly revenue beats estimates on cloud growth

Microsoft (MSFT) 3rd Quarter Earnings: What to Expect

For the quarter that ended March, the Redmond, Wash. -based tech giant is expected to earn $1.00 per share on revenue of $29.84 billion.

Its gaming revenue was up only 5 per cent versus 8 per cent the quarter before, which Spencer attributed to less revenue from third-party game developers and the fact that many gamers are delaying purchases of Microsoft's Xbox console because a new model is expected soon.

"Leading organizations of every size in every industry trust the Microsoft cloud. We are accelerating our innovation across the cloud and edge so our customers can build the digital capability increasingly required to compete and grow", CEO Satya Nadella said in a statement.

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Microsoft Corp beat Wall Street estimates for quarterly profit and revenue on Wednesday, powered by a surprise boost in Windows revenue and as growth in its cloud business stayed on track. Windows OEM revenue increased by 9 percent, while Windows Commercial products and cloud services saw an increase of 18 percent.

Office consumer products revenue were up 12 percent.

Microsoft (MSFT) reported better-than-expected fiscal third-quarter financial results, bolstered by its continued dominance in cloud computing and services, which sent its shares soaring.

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One of these days, Microsoft will decide that it needs to break out the amount of revenue it is recording from sales of its Azure cloud computing services. Revenue in Microsoft's productivity and business processes unit was $10.2 billion as commercial Office revenue grew 12 percent. Microsoft now has 180 million active monthly users on Office 365 Commercial, up 8 percent, and 34.2 million Office 365 Consumer subscribers, up from 30.6 million a year ago.

LinkedIn revenue was up 27 percent and Dynamics sales grew 13 percent.

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