Microsoft cloud annualized run rate passes $20 billion

Microsoft cloud annualized run rate passes $20 billion

Microsoft cloud annualized run rate passes $20 billion

Shares of Microsoft Corporation (NASDAQ: MSFT) were volatile in Thursday's after-hours session, following the announcement of the company's FY2018 first-quarter financial results. Profit for the quarter climbed to $6.6 billion from $5.7 billion in the first quarter a year ago.

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.

The actual numbers the company reported today were $24.5 billion in GAAP revenue and $0.84 in non-GAAP earnings per share.

Productivity and Business Processes: Revenue was up 28% on the year in constant currency to $8.2B. Revenues in More Personal Computing segment, which includes Windows operating system, was relatively unchanged at $9.4 billion.

The figure came in at $20.4 billion for the quarter.

Azure sales rose 90 percent.

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Investors will likely be pleased by the progress Microsoft showed in its all-important cloud computing business. Office 365 commercial revenue has increased by 42 percent while the consumer version of Office 365 now has 28 million subscribers.

The tech giant kicked off its fiscal 2018 with an impressive three months, including earnings of 84 cents per share on an adjusted basis.

Microsoft purchased LinkedIn, the professional social network, in December for $27 billion, in part, to boost the Dynamics business. Windows OEM Pro, which derives its revenue from the business PC market, saw its revenues grow 3% in 2Q17.

Surface revenue by itself was up 12% from a year ago, which is good news for Microsoft following a dip in the previous quarter.

Net income was $6.6 billion and increased 16%. Revenue from Microsoft's intelligent cloud business rose almost 14 percent to $6.92 billion in Microsoft's fiscal first quarter, ended September 30. The rest is a 2% (2% in CC) increase in server revenue.

Microsoft Corp. has ridden the cloud-computing wave for several quarters, and once again its revenues surged on the strength of its emerging business of selling web-based, on-demand computing services.

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