UPDATE 2-Microsoft revenue beats as remote work feeds cloud demand, boosts Teams [Reuters]
Microsoft Corporation (MSFT)
Last microsoft corporation earnings: 4/29 04:06 pm
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Source: Reuters
Microsoft revenue beats as remote work feeds cloud demand, boosts Teams (Reuters) - Microsoft Corp ( MSFT.O ) reported quarterly revenue above Wall Street estimates on Wednesday, boosted by higher demand for its cloud platform Azure and collaboration app Teams, and as people locked in their homes due to the pandemic played more games on Xbox consoles. The company’s shares, which rose over 12% this year, were up about 5% in extended trading. Microsoft said Windows benefited from increased demand to support remote work and learning scenarios, offset in part by supply chain constraints in China that improved late in the third quarter. Microsoft said on Wednesday that supply chain constraints due to the coronavirus pandemic had delayed some of its spending to build Azure data centers. Revenue was also helped by demand for the company’s cloud services. However growth in Azure slowed to 59% in the reported quarter, compared to a growth of 62% in the second quarter. Microsoft said revenue
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