Microsoft beats forecasts as cloud boosts quarterly results

Microsoft edges above US$600 billion market cap

The actual numbers the company reported today were $24.5 billion in GAAP revenue and $0.84 in non-GAAP earnings per share.

Microsoft reported adjusted per-share earnings of 84 cents.

In terms of guidance, analysts are looking for Microsoft to hit 83 cents in earnings per share, excluding certain items, and $28.15 billion in revenue in the second quarter, which will end on December 31, according to Thomson Reuters.

Finally, Intelligent Cloud revenue grew by 14% (13% in CC), and while operating expenses increased by 3% (2% in CC), operating income grew by 20% (20% in CC). In 2015, Nadella set a target of $20 billion in cloud revenue by 2018.

Microsoft's stock was up about 2 percent at $80.25 in after-hours trading.

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Intelligent Cloud segment, which includes its Azure on-demand computing services, revenues increased 14 percent to $6.9 billion, with Azure revenues surging 90 percent. As usual, things like Surface, Office 365, cloud services like Azure, and Windows all saw growth.

One of the most notable achievements of the quarter was to top the company's goal of a $20 billion in annualized revenue run rate for its commercial cloud business.

As you can see from the image above, the biggest areas of growth, in terms of percentage, are Azure, Dynamics 365, and Office 365 commercial. "Our results reflect accelerating innovation and increased usage and engagement across our businesses as customers continue to choose Microsoft to help them transform".

More Personal Computing: Revenue was $9.4B and down 1% in constant currency. As for the Xbox division, revenue increased by only 1 percent, Xbox software and services revenue growth saw an increase of 21 percent offset by lower hardware revenue. Another strong point was Microsoft's Surface hardware revenue, which surged 12% for the quarter after the Surface Laptop was introduced in June.

While the Azure cloud platform is included in this number, Microsoft sadly doesn't break out Azure revenue numbers. This report is for the first quarter of its 2018 fiscal year, or the third quarter of the 2017 calendar year.

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