Microsoft today reported its financial results for the quarter ended September 30, 2020.
Microsoft’s sales numbers were ahead of analyst estimates, EPS was $1.82 against the estimate of $1.54 and the revenue was $37.2 billion against the estimate of $35.7B. Operating income was $15.9 billion and increased 25%. Net income was $13.9 billion and increased 30%.
Microsoft’s solid financial results were driven mainly by Office 365 and Azure cloud services.
“The next decade of economic performance for every business will be defined by the speed of their digital transformation,” said Satya Nadella, chief executive officer of Microsoft. “We are innovating across our full modern tech stack to help our customers in every industry improve time to value, increase agility, and reduce costs.”
“Demand for our cloud offerings drove a strong start to the fiscal year with our commercial cloud revenue generating $15.2 billion, up 31% year over year,” said Amy Hood, executive vice president and chief financial officer of Microsoft. “We continue to invest against the significant opportunity ahead of us to drive long-term growth.”
Expecting strong earnings results, Microsoft stock was up 1.51% percent today before the market was closed.