Microsoft released its earnings for its third quarter ending March 31st, and it beat Wall Street expectations.
Reuters says the company’s total revenue rose by 14 percent. According to IBES data from Refinitiv, total revenue came in at $30.57 billion USD (about $41.24 billion CAD), beating analysts’ average estimate of $29.84 billion USD (roughly $40.26 billion CAD).
Further, Reuters says Microsoft’s Azure cloud computing unit, as well as its Office subscription software, fueled the growth.
Net income rose to $8.81 billion USD (approximately$11.89 billion CAD) from $7.42 billion USD (about $10.01 billion CAD) last year.
Interestingly, Microsoft’s Personal Computing segment was up 8 percent to $10.7 billion USD (roughly $14.44 billion CAD). This includes Windows commercial revenue, which jumped 18 percent, a 21 percent increase in Surface revenue and a five percent jump in gaming revenue.
Source: Reuters, Venture Beat
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