Thanks to its cloud services business, Microsoft clocked its first $100 billion sales year.
For the fiscal year 2018 ending in June, the company generated $110 billion in sales - which is +14% higher compared to the previous year. A major driver was its cloud computing segment which registered a +53% year-over-year surge in sales in the last quarter.
CEO Satya Nadella’s strategy of prioritizing the firm’s cloud services (over Windows) seems to be paying off. What’s more, Microsoft recently signed a five-year cloud services deal with Walmart – a partnership that rival-in-common Amazon might need to watch out for.
With worldwide spending on public cloud services and infrastructure projected to touch $160 billion in 2018 and burgeon to $277 billion by 2021(according to the International Data Corporation), Microsoft’s not so ‘cloudy’ ambitions could be its potential trump card.