Microsoft Corp.'s push into the cloud forged ahead last quarter, with demand for online versions of Office productivity software and the Azure web-services business bolstering sales and earnings.
Commercial cloud revenue was $20.4 billion on an annualized basis, meeting the company's $20 billion target previously set for the fiscal year that started July 1.
Following the Microsoft FQ1 2018 earnings release, the company's stock surged in after-hours trades, climbing by as much as 2.51% to $80.74. This year, Microsoft's commercial cloud run rate hit $20.4 billion.
A $70 fee might await you at Crater Lake, other National Parks
The news of the possible increase did not sit will people who frequent the park. "The national parks offer SO MUCH MORE". The proposed entrance fee would be $30 per person, up from the current $10 fee, $70 per vehicle and $50 per motorcycle.
Total revenue in the company's More Personal Computing division, which also includes the Windows operating system, was $9.4 billion, beating the $8.8 billion average estimate of four analysts polled by Bloomberg. Azure gross margins were a "key component" of the 8 percentage point improvement in commercial cloud services from the same period previous year, Chief Financial Officer Amy Hood said.
Under chief executive Satya Nadella, Microsoft's cloud business - which includes products such as Office 365, Dynamic 365 and the flagship Azure computing platform - has emerged as a major growth driver. "Our results reflect accelerating innovation and increased usage and engagement across our businesses as customers continue to choose Microsoft to help them transform".
Windows Phone is dead, the company's fitness-focused wristband has been axed and its streaming music service is no more, and Microsoft investors couldn't be happier with the company.
Garcia Flies High in Thriller on Day Four of the WTA Finals
It was very hard , a lot of emotion, some up and down, but at the end I could control myself better than she did". Caroline Garcia has been on a whirlwind ride that carried her into the WTA Finals .
An promotional video plays behind a window reflecting a nearby building at the Microsoft office in Cambridge, Massachusetts, U.S. on May 15, 2017. Surface revenue was up 11% thanks to the new Surface Laptop and Gaming was flat on the year since the new Xbox didn't report in this quarter.
PiperJaffray analysts Alex Zukin, Scott Wilson and Taylor Reiners had expected 30 percent growth in Office 365 commercial revenue, which would have been down from more than 40 percent in revenue growth in the past two years.
On the Xbox front, Microsoft says hardware revenue declined significantly - due to lower pricing and fewer sales - but overall revenue still ticked up ever so slightly thanks to increased Xbox Live transactions.
United Kingdom growth up 0.4 pct in Q3
The eurozone's growth rate also caught up with the United Kingdom in 2016, and has outpaced the United Kingdom so far this year.