Microsoft, AT&T sign cloud deal worth more than $2 billion

Inside Xbox Returns for Gamescom 2019

Microsoft announces Gamescom 2019 plans

Revenue generated by Office Commercial products, however, declined by 17% as more customers are switching to the cloud-based services.

Revenue growth in Azure was 64% in the fiscal fourth quarter ended June 30, compared with 89% a year earlier and 73% in the prior quarter. FactSet analysts expected only $32.8 billion.

Chief Executive Officer Satya Nadella is working to keep up a steady flow of cloud deals, seeking to center Microsoft's strategy on web services and narrow the gap with market leader Amazon.com Inc. "Q4 commercial cloud revenue increased 39 percent year-over-year to $11.0 billion, driving our strongest commercial quarter ever", said CFO and EVP Amy Hood. In new deployments Microsoft will provide the cloud services while AT&T will provide the 5G communications network.

The US technology titan, shifting in recent years to business services from consumer tech, reported its net income rose 49 percent to $13.2 billion on revenue that was up 12 percent to $33.7 billion.

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Shares of Microsoft rose 1.2 per cent to $138.13 in extended trading. The stock has jumped this year on optimism about the company's cloud business, and on some investors' belief that Microsoft is a safe haven as US and European regulators sharpen their scrutiny of other large technology firms.

The software maker pledged "double-digit" percentage gains in sales and operating income for the year that started July 1. Still, swelling profit margins in cloud have helped to offset those worries. "We'll be bringing a great line up of games to the event from developers around the world with nearly 200 gameplay stations in our booth, including the first public hands-on of both Minecraft Dungeons, Horde Mode in Gears 5 and fans in Germany can also try Project xCloud for the first time".

Lastly, at Xbox, we believe that gaming should be safe, inclusive, and accessible for all, and in that spirit we're excited to announce that our booth is even more accessible to fans at the show this year. The average estimate of 14 analysts surveyed by Zacks Investment Research was for earnings of $1.21 per share.

The unit known as More Personal Computing, including Windows software, Surface hardware and Xbox gaming products, saw revenue climb 4 per cent to US$11.3 billion.

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Microsoft became the world's most valuable company this year, leapfrogging its historic rival and passing a trillion-dollar valuation amid booming revenues from cloud computing, in which businesses pay to rent computing resources from Microsoft.

Windows OEM Pro revenue grew by 18%, driven by "healthy Windows 10 demand" and partly because of Windows 7 reaching end of support.

Starting Wednesday, August 21 to Friday, August 23, Microsoft open both its Xbox booth in Hall 8 of the Koelnmesse, but there will also be an "Xbox Open Doors" multiday experience at the Gloria Theatre in Cologne.

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