Microsoft posted its fiscal third quarter earnings that surpassed analysts’ expectations – in the ninth consecutive quarter.
The software behemoth’s earnings for the quarter came in at $1.95 a share, compared to $1.77 a share expected by analysts polled by FactSet.
Revenue of $41.7 billion also beat estimates of $40.83 billion. Revenue grew at +19% annualized rate – the biggest quarterly growth since 2018. PC sales was a major contributor to growth.
The company said its Azure public cloud grew +50%, faster than the +46% growth analysts had expected, according to a CNBC review of 14 equity research notes. In the prior quarter Azure revenue climbed 50%.
For its fiscal fourth quarter, Microsoft is expecting $43.6 billion to $44.5 billion in revenue, compared to the $42.98 billion consensus estimate of analysts polled by Refinitiv.