Microsoft Beats Wall Street's Expectations With Strong Q3 Earnings
Microsoft (NASDAQ: MSFT) announced third quarter earnings for fiscal 2021 after the market closed on Tuesday, beating Wall Street's expectations on both the top and bottom lines. The company's revenue hit $41.7 billion, up 19% over the prior year and above the 17% growth posted last quarter. Similarly, diluted earnings per share came in at $2.03, up an impressive 45%.
Hitting the highlights, revenue from Microsoft's Productivity and Businesses Processes segment grew 15% to $13.6 billion. This was the result of strong sales in commercial software products like Office 365 and Dynamics 365, which jumped 22% and 45%, respectively.
During the earnings call, CEO Satya Nadella also mentioned that Microsoft Teams reached 145 million daily active users, nearly double the 75 million daily active users reported last year. This indicates continued demand for videoconferencing and collaboration solutions that support remote work.
Source Fool.com
