Microsoft reports 7% increase in commercial revenue as Nokia acquisition set to close
Microsoft last night revealed its Q1 results for 2014, reporting that devices and consumer revenue grew 12 per cent to $8.30bn, while commercial revenue increased seven per cent to $12.23bn.
“This quarter’s results demonstrate the strength of our business, as well as the opportunities we see in a mobile-first, cloud-first world. We are making good progress in our consumer services like Bing and Office 365 Home, and our commercial customers continue to embrace our cloud solutions. Both position us well for long-term growth,” said Satya Nadella, chief executive officer at Microsoft. “We are focused on executing rapidly and delivering bold, innovative products that people love to use.”
The company reported net income of $5.66bn, while search advertising revenue from Bing grew 38 per cent.
Office 365 revenue grew over 100 per cent, with Office 365 Home now having 4.4 million subscribers, while Xbox console units, including 1.2 million Xbox One consoles, sold during the quarter.
“Our products and services continue to deliver differentiated business value to our customers, and we continue to win share in areas like cloud services, data platform, and infrastructure management,” said Kevin Turner, chief operating officer at Microsoft.
Today, 25 April, Microsoft expects to close the acquisition of the Nokia Devices and Services business, and rename the brand as Microsoft Mobile.