Microsoft Beats Financial Expectations Despite Worries About … – The New York Times
Microsoft said on Tuesday that its business had remained strong in its most recent quarter despite pressure from a slowing economy, with a 7 percent increase in revenue and a 9 percent jump in profit.
The company’s revenue was $52.9 billion, and it made $18.3 billion in profit in the quarter. Both exceeded Wall Street expectations.
Microsoft’s cloud business — which includes Azure, its cloud computing product, and its Microsoft 365 platform — powered the surprisingly resilient results, with $28.5 billion in revenue, up 22 percent from a year earlier.
Sales of Azure, a key metric watched by investors, grew 27 percent, which was in line with investors’ expectations. Still, that was a drop from a 46 percent increase the year before. Overall, the segment that the company calls Intelligent Cloud was up 16 percent from a year earlier, which was better than had been expected.
Microsoft’s cloud products are “certainly a very important engine for us going forward,” said James Ambrose,…
The post Microsoft Beats Financial Expectations Despite Worries About … – The New York Times first appeared on SEO, Marketing and Social News | OneSEOCompany.com.
source: https://news.oneseocompany.com/2023/04/25/microsoft-beats-financial-expectations-despite-worries-about-the-new-york-times_2023042544025.html
Your content is great. However, if any of the content contained herein violates any rights of yours, including those of copyright, please contact us immediately by e-mail at media[@]kissrpr.com.