Sport Microsoft share still lighter: Microsoft beats expectations

Microsoft has presented its balance sheet for the first quarter of the fiscal year 2021. The results.

© Provided by Finanz.net PHILIPPE HUGUEN / AFP / Getty Images

The booming cloud business with IT services on the Internet keeps the software giant Microsoft on the road to success. In the past fiscal quarter (to the end of September), profits increased by 30 percent to 13.9 billion dollars (11.8 billion euros) compared to the same period in the previous year, as Microsoft announced on Tuesday after the US stock market closed in Redmond, Washington. Sales grew twelve percent to $ 37.2 billion. "Demand for our cloud offerings made the fiscal year off to a strong start," said Amy Hood, Microsoft's chief financial officer.

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Microsoft ( MSFT ) on Tuesday announced its fiscal Q1 2021 earnings, beating analysts’ expectations on the strength of its cloud business. These are the most important numbers from the report compared to what analysts were expecting out of the tech giant, as compiled by Bloomberg.

(Reuters) - Microsoft Corp (O: MSFT ) beat Wall Street estimates for quarterly revenue on Tuesday, powered by growth in its flagship cloud computing business as the software giant continued to benefit from a global shift to work and learning from home. The shift to work from home has accelerated

Microsoft clearly exceeded the expectations of Wall Street analysts. The lucrative business with cloud services for other companies and apps continued to grow - Microsoft's Azure platform increased revenues by 48 percent.

The group also benefited from the pandemic-induced trend towards home work with its office programs. Microsoft is pushing its teams into the market with its software package, which competes with the communications software Slack and the video conferencing service Zoom. Teams now has more than 115 million daily active users compared to 75 million users in April, according to Microsoft CEO Satya Nadella.

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Many changes in the world of work that have been made because of the corona pandemic are expected to be permanent, Nadella said. "It's clear that people will need more flexibility about when, where and how they work." The economic performance of every company in the coming decade will be determined by the speed of its digital transformation.

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Microsoft has reported quarterly earnings that beat Wall Street expectations , as it continued to weather the coronavirus pandemic amid increased demand for its flagship software and services. The company reported fiscal first-quarter profit of 13.9 billion dollars (£10.6bn), or 1.82 dollars per share

Microsoft earnings beat expectations , driven by video game sales and cloud demand. Revenue in Microsoft 's ( MSFT ) intelligent cloud segment reached billion, up 20% from the year-ago period Microsoft shares fell nearly 2% in after hours trading Tuesday night. Azure's 48% revenue growth

The gaming business around the Xbox game console and Microsoft's "Surface" tablets also enjoyed strong demand. There were sales increases of 30 and 37 percent respectively. Overall, the PC division, which also includes the Windows operating system, posted a six percent increase in revenues to $ 11.8 billion.

Investors can expect even more when it comes to video gaming. Microsoft will launch its new Xbox Series X game console this quarter. "We expect very strong demand for the launch of our next-generation Xbox X and S-series consoles," said Hood.

Microsoft has not been able to harm the corona crisis so far, the share has risen by more than 36 percent since the beginning of the year. This year the company has increased its market value by a third to $ 1.6 trillion.

The Microsoft share listed on the NASDAQ shows itself only briefly positively influenced by the good results: In an initial reaction it rose 1.22 percent to USD 215.85, but is now 1.68 percent lighter at 209 .60 US dollars. Finanzen.net editors / dpa-AFX