Microsoft Corp. posted earnings much stronger than expected by analysts. The performance was bolstered by the tech behemoth’s cloud revenues and personal computer sales.
Microsoft’s earnings for the three months ending in December, (the company's fiscal second quarter) increased +34% year-over-year to $2.03 per share, well ahead of the Street consensus forecast of $1.64 per share.
Revenues surged +17% year-over-year to $43.1 billion, again exceeding analysts' estimates of $40.2 billion.
Intelligent Cloud revenues climbed +23% from the year-ago period to $14.6 billion, with server products and cloud services sales rising 26%, driven by a 50% jump in revenues for Azure, Microsoft's cloud offering.
Revenues in Personal computing segment rose +14% to $15.1 billion, apparently driven by the 'work-from-home' culture amid pandemic.