Interim reports Microsoft’s results exceeded expectations as strong demand for cloud services continued

Economic|Interim reports

Software giant Microsoft’s previous quarter’s result exceeded market expectations. The company by The result was boosted by, among other things, strong demand for cloud services.

The October-December result was $ 18.8 billion, or about $ 16.6 billion, up 21 percent from a year earlier. Revenue also grew twenty percent to $ 51.7 billion.

Microsoft has benefited in the past from the fact that work, study and shopping have increasingly moved online due to the coronavirus pandemic.

“Digital technology is the most adaptable resource available in the world to overcome constraints and re-imagine everyday work and life,” CEO of Microsoft Satya Nadella said the company in an investor letter released on Tuesday.

Last during the week, Microsoft also announced the acquisition of Activision Blizzard, a player in a massive $ 69 billion acquisition worth about $ 61 billion. The transaction still requires the approval of the competition authorities.

Read more: Microsoft buys gaming giant Activision Blizzard, the software company’s largest acquisition ever

Revenue for Microsoft’s Xbox game consoles and game content division grew 10 percent during the recent quarter.

In connection with the announcement of the purchase of the problematic Activision Blizzard New York Times Microsoft said the acquisition was the largest in Microsoft ‘s history, in addition to the highest price ever paid by a gaming company.

According to Microsoft, with the acquisition of Activision Blizzard, the company will become the third largest gaming company in terms of turnover immediately after Tencent and Sony.

Activision Blizzard’s best-known products include Call of Duty, World of Warcraft, Candy Crush and Overwatch.

However, the significant acquisition is overshadowed by allegations of large-scale sexual harassment that have shaken the gaming company recently.