Microsoft buoyed by bumper $20.5bn revenues on back of Office and Cloud uplift
Microsoft has been well remunerated for its efforts over the latest quarter after registering revenue of $20.5bn and net income of $4.7bn, accounted for chiefly by a strong showing from its Office and Cloud arms.
Over the first quarter of its 2017 fiscal earnings Microsoft saw Office commercial revenues rise by 5% and residential revenue lift by 8% whilst income from its Azure cloud computing platform rose by a whopping 116%.
Microsoft’s Surface hardware line-up also posted strong growth as revenue hit $926m over the period, an increase of 38% on the $672m recorded in the year prior.
On the other side of the coin the company’s phone revenues collapsed by 75% following its withdrawal from the sector whilst gaming revenue also dipped 5% on the back of lower Xbox revenue.
Investors cheered the figures with Microsoft’s share price hitting a record high on news of the revenue numbers.