Microsoft sales top estimates amid flurry of cloud wins [Business News Network (BNN) Energy & Resources (Canada)]
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Source: Business News Network
Microsoft sales top estimates amid flurry of cloud wins Microsoft Corp.’s ( MSFT.O ) cloud computing business fueled quarterly sales and profit that topped analysts’ estimates, boosted by several new deals with large corporate clients. Revenue rose 14 per cent from a year earlier to US$30.6 billion in the quarter ended March 31, the Redmond, Washington-based company said Wednesday in a statement. Analysts on average projected US$29.9 billion. Net income was US$8.8 billion, or US$1.14 a share, compared with an average analyst estimate of US$1 a share, according to data compiled by Bloomberg. The fiscal third quarter featured a flurry of large brands, particularly in retail, signing agreements to use Microsoft’s Azure cloud software. Clients included grocer Kroger Co., Walgreens Boots Alliance Inc. and oil company Exxon Mobile Corp. Some, such as Walgreens, also committed to using cloud-based Office and security software. The deals reflect Chief Executive Officer Satya Nadella’s effort
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