Microsoft profit soars as Covid speeds shift to cloud – Times of India

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SAN FRANCISCO: Microsoft mentioned Tuesday profit rose sharply within the just lately ended quarter as the coronavirus pandemic revved a shift to counting on companies hosted within the cloud for work, play and socializing.
The US know-how stalwart reported web revenue of $15.5 billion within the closing three months of final yr, a 33 % leap from the identical interval in pre-pandemic 2019.
Overall income rose 17 % from a yr in the past to $43.1 billion, Microsoft mentioned in its replace for its fiscal second quarter.
“What we have witnessed over the past year is the dawn of a second wave of digital transformation sweeping every company and every industry,” Microsoft chief govt Satya Nadella mentioned in an earnings launch.
“Building their own digital capability is the new currency driving every organization’s resilience and growth.”
Microsoft’s industrial cloud choices took in income of $16.7 billion within the quarter, up 34 % from the identical interval within the prior yr, in accordance to chief monetary officer Amy Hood.
“We continue to benefit from our investments in strategic, high-growth areas,” Hood mentioned.
Microsoft shares had been up greater than 5 % in after market trades that adopted launch of the earnings figures.
“These were blow-out numbers that will be another feather in the cap for the tech sector as the cloud growth party is just getting started, in our opinion led by Microsoft,” Wedbush analyst Dan Ives mentioned in a notice to buyers.
Revenue in Microsoft’s shopper-targeted More Personal Computing unit was up 14 % to $15.1 billion, helped by a 40 % surge in cash taken in from content material and companies at its Xbox online game unit, in accordance to the corporate.
Sales of video video games, consoles and equipment hit a file excessive within the US final yr as folks hunkered down at residence due to the pandemic turned to play.
Sony’s PlayStation 5 and Microsoft’s latest Xbox had been launched in November, vying for vacation season dominance as the pandemic boosts gaming demand.



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