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Microsoft’s hiked quarterly earnings confirm its booming cloud business

Microsoft’s hiked quarterly earnings confirm its booming cloud business

Microsoft disclosed its earnings report for FY17 Q4 for the month ending June 30, 2017.

Surpassing analysts’ expectations, Microsoft recorded a revenue of $23.3 billion GAAP and $24.7 billion non-GAAP. This was higher than the Wall Street’s anticipation of $24.3 billion. It further reported an operating income of $7.0 billion non-GAAP.

Its intelligent cloud revenue grew 11 % year-over-year to $7.4 billion.

Microsoft CEO – Satya Nadella, said that innovation across company’s cloud platforms is a major reason behind the revenue hike.

He said, “Customers are looking to Microsoft and our thriving partner ecosystem to accelerate their own digital transformations and to unlock new opportunity in this era of intelligent cloud and intelligent edge.”

Apart from Azure, Office 365 also recorded a good performance with Office consumer products and commercial products increasing by 13% and 5% respectively.

Other products like Windows OEM recorded a 1% (up 1% in constant currency) increase in revenue, which is a bit ahead of the overall PC market.

Surface revenue decreased by 2% (1% in constant currency), supposedly due to product life-cycle transition.

Company’s gaming console unit also reported good revenue increase due to strong products like Xbox.

The increased revenue is a clear indicator of company’s constant efforts to evolve digitally.

The recently held Microsoft Inspire also focused on the same vision – to invest in areas that drive success for both Microsoft and its customers with products like Microsoft 365.

On top of the Q4 earnings report, Microsoft also revealed the results for the full financial year 2017. The company earned non-GAAP revenue of $96.7 billion for the twelve months ending on June 30, and a net income of $25.9 billion.

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