Cloud Computing and Gaming Boost Microsoft Earnings Results
Microsoft (NASDAQ: MSFT) reported the results of its fiscal first quarter (ended Sept. 30), which trounced expectations on the strength of the company's cloud services and continuing swell in gaming activity. Revenue of $37.2 billion grew 12% year over year, easily surpassing analysts' consensus estimates of $35.72 billion, while also surpassing the high end of management's forecast, which topped out at $36.05 billion. Earnings per share of $1.82 increased 32%, eclipsing the $1.54 expected by analysts.
Management cited strong demand for Microsoft's cloud computing services, with CFO Amy Hood noting, "We continue to invest against the significant opportunity ahead of us to drive long-term growth."
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Source Fool.com
