Redmond (AP) Growth in Microsoft’s cloud computing business helped boost its profit by 24 percent in the July-September quarter compared to the same period last year. Washington-based tech company Redmond on Tuesday reported a quarterly profit of US$17.2 billion, or US$2.27 per share, beating Wall Street’s expectations of US$2.08 per share.
Microsoft’s profits have soared throughout the pandemic, thanks to an ongoing demand for remote working and studying for its software and cloud computing services. Microsoft generated revenue of US$45.3 billion in the first quarter of its fiscal year, up 22 percent from the previous year. According to FactSet Research, analysts were looking for $44 billion in revenue.
Microsoft sold its “intelligent cloud” segment, which includes server products and its Azure cloud computing platform, at US$17 billion, up 31 percent from a year ago. The company is competing hard with Amazon, Google and other cloud. Provider for large business and government contracts. Microsoft’s personal computing business segment had relatively slow growth, which includes Windows software licenses for new computers. Sales in the segment grew 12 percent to USD 13.3 billion. Microsoft is unveiling the next generation of its Windows software, called Windows 11, its first major update in six years, but the PC market has also been hit by supply chain problems.
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