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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 goo...

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