{"id":170068,"date":"2023-01-24T23:56:43","date_gmt":"2023-01-24T23:56:43","guid":{"rendered":"https:\/\/precoinnews.com\/?p=170068"},"modified":"2023-01-24T23:56:43","modified_gmt":"2023-01-24T23:56:43","slug":"microsoft-q2-profit-beats-street-view-driven-by-strong-cloud-growth","status":"publish","type":"post","link":"https:\/\/precoinnews.com\/economy\/microsoft-q2-profit-beats-street-view-driven-by-strong-cloud-growth\/","title":{"rendered":"Microsoft Q2 Profit Beats Street View Driven By Strong Cloud Growth"},"content":{"rendered":"<p> Software giant Microsoft Corp. (MSFT) Tuesday reported second-quarter results, with earnings beating Wall Street estimates, reflecting growth in cloud <span>business<\/span>.<\/p>\n<p>Net income for the quarter was $16.43 billion or $2.20 per share, up from $18.77 billion or $2.48 per share in the same quarter last year. <\/p>\n<p>Adjusted earnings for the quarter were $2.32 per share. Thirty-five analysts polled by Thomson Reuters expected earnings of $2.29 per share for the quarter. Analysts&#8217; estimates typically exclude one-time items.<\/p>\n<p>Microsoft said its revenues grew 2% to $52.75 billion from $51.73 billion last year. Analysts had a consensus revenue estimate of $52.96 billion.<\/p>\n<p>&#8220;We are focused on operational excellence as we continue to invest to drive growth. Microsoft Cloud revenue was $27.1 billion, up 22% (up 29% in constant currency) year-over-year as our commercial offerings continue to drive value for our customers,&#8221; said Amy Hood, executive vice president and chief financial officer of Microsoft.<\/p>\n<p>The revenue from intelligent cloud services increased to $21.5 billion in the quarter, up 18% from last year, driven by Azure and other cloud services revenue growth of 31%. <\/p>\n<p>Revenue in Productivity and Business Processes increased 7% to $17.0 billion, with office commercial products and cloud services revenue up 7 percent driven by Office 365 commercial revenue growth of 11 percent, and LinkedIn revenue increase of 10%.<\/p>\n<p>Revenues in More Personal Computing segment, which includes Windows operating system, slipped 19 percent to $14.2 billion.<\/p>\n<p>MSFT closed Tuesday&#8217;s trading at $242.04, down $0.54 or 0.22%, on the Nasdaq. The stock, however, gained $10.01 or 4.14% in the after-hours trading. <\/p>\n<p>Source: <a href=\"https:\/\/www.rttnews.com\/3338954\/microsoft-q2-profit-beats-street-view-driven-by-strong-cloud-growth.aspx?type=ern\" target=\"_blank\" rel=\"noopener\">Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Software giant Microsoft Corp. (MSFT) Tuesday reported<\/p>\n","protected":false},"author":3,"featured_media":170067,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[23052],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.7 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Microsoft Q2 Profit Beats Street View Driven By Strong Cloud Growth - Pre Coin News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/precoinnews.com\/economy\/microsoft-q2-profit-beats-street-view-driven-by-strong-cloud-growth\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Microsoft Q2 Profit Beats Street View Driven By Strong Cloud Growth - Pre Coin News\" \/>\n<meta property=\"og:description\" content=\"Software giant Microsoft Corp. 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