- Microsoft Corporation (NASDAQ: MSFT) stock price rose more than 3% ahead of market today. That’s why it happened.
Microsoft Corporation (NASDAQ: MSFT) stock price rose more than 3% ahead of market today. Investors are reacting positively to the company’s second-quarter fiscal results.
The company reported $2.48 per share in earnings, which was well above analysts’ expectations. And revenue for the quarter was $51.73 billion, which was also well above expectations.
Revenue increased 20% year-over-year, compared to growth of approximately 22% in the prior quarter. Net profit jumped to $18.77 billion.
Microsoft had $36.77 billion in unearned revenue at the end of the year. And Microsoft expects to see 45% of its remaining $152 billion in performance bonds over the next year.
For the third fiscal quarter, Microsoft expects revenue of $48.5 billion to $49.3 billion. This figure was also well above expectations.
Microsoft’s Intelligent Cloud operations (Azure public cloud, GitHub and service products) reached $18.33 billion. And revenue from Azure and other cloud operations grew 46%.
The company’s revenue from the More Personal Computing segment (Windows, Advertising, Devices and Games) was $17.47 billion. This figure was also well above expectations.
Microsoft’s Productivity and Business Processes segment (Office, Dynamics and LinkedIn) reported revenue of $15.94 billion for the quarter, a growth of 19%. Additionally, the Teams app now has over 270 million monthly active users.
KEY QUOTES:
“Digital technology is the world’s most malleable resource for overcoming constraints and reinventing everyday work and life. As technology as a percentage of global GDP continues to rise, we innovate and invest in diverse and growing markets, with a common underlying technology stack and operating model that reinforces a strategy, culture and sense of purpose. common goal.
— Satya Nadella, President and CEO of Microsoft
“Strong business execution, represented by strong reservations growth driven by Azure’s long-term commitments, drove Microsoft Cloud revenue to $22.1 billion, up 32% year over year. ‘other.
— Amy Hood, Executive Vice President and Chief Financial Officer of Microsoft
Disclaimer: This content is intended for informational purposes. Before making any investment, you should do your own analysis.
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