The American software and technology empire, Microsoft Corp., announced on Tuesday evening that it achieved strong results during the second quarter of the current fiscal year, as it came
Revenue and profit are higher than analysts’ expectations. On the other hand, the company’s stock fell yesterday by 5% due to the slowdown in the growth rate of the cloud computing sector in the world
company.
Microsoft’s net profit during the second quarter of this fiscal year amounted to $18.77 billion, equivalent to $2.48 per share, compared to 15.46
$1 billion, equivalent to $2.03 per share, during the same period last year.
Analysts had expected earnings of $2.31 per share. Microsoft said its second-quarter revenue increased 20% to
$51.73 billion, compared to $43.88 billion during the same period last fiscal year. Analysts had expected revenue of $50.88 billion
Just.
The cloud computing sector was one of the main factors in the strong results with the increasing global reliance on working from home as a result of the Corona virus pandemic
This led to an increase in Microsoft’s cloud computing services sales.
Revenues for smart cloud computing services at Microsoft during the second quarter of this fiscal year recorded an annual growth rate of 26% to reach 18.3 billion
dollars, thanks to a 46% growth in revenue from the cloud computing service Azure and other similar services. At the same time, the growth rate was less than the growth rate
The sector’s revenue during the first quarter of the current fiscal year was 50%.
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