Multinational tech company Microsoft beats analysts’ expectations of nearly $1 billion in revenue for the second quarter of 2019.
In a press release published by Microsoft, it is indicated that revenue for the last quarter is $33.7 billion, a massive 12 per cent increase from its record on the previous year.
The company adjusted its earnings per share to $1.37, as compared to the analyst forecast of $1.21. Hours after the news about the increase of Microsoft’s revenue, the stock went up to 2.7%, which now values $140.
Microsoft said, “It was a record fiscal year for Microsoft, a result of our deep partnerships with leading companies in every industry. Every day we work alongside our customers to help them build their own digital capability—innovating with them, creating new businesses with them and earning their trust.”
Cloud Division Azure also performs with no blemish, increasing revenue to 39% according to CNN. Azure is the leading cloud web service which competes alongside Amazon Web Services. Last year’s fourth-quarter revenue showed a 64% growth of Azure, which is lower from the third quarter with a 73% increase.
According to CNN, Microsoft can continue to attract more customers and expands its Azure by allowing two different clouds to work at once, with a combination of physical IT and cloud services. This is something that more people need and the company has its means to achieve this service.
Analyst Dan Morgan said that a mix of private and public cloud are already common and Microsoft’s Azure Stack remains to be a ‘game-changer for legacy enterprises.’
In a recent partnership of the tech giant company with Oracle Cloud could indicate better cloud services. The company can capitalize on this venture, and let customers use the platform on Microsoft and at the same time, access Oracle for data capabilities.
Microsoft revenue was led by Intelligent Cloud, followed by Productivity and Business Processes.