After Apple and Amazon, Microsoft's valuation briefly touches $1 trillion

30 April, 2019, 04:31 | Author: Gerard Cortez
  • Microsoft 3Q19 revenue up 14% on the back of strong cloud and, uh, Windows? ars_ab.settitle(1495761);

As always these days, Microsoft officials were keen to talk about the continued growth of the firm's Commercial Cloud business, which bundles services including Office 365, the Azure cloud and some LinkedIn and Dynamics revenues.

Microsoft added that its gross margin, which is the percentage of revenue left over after accounting for the costs of its products and services sold, came to 66.7%, up from 65.4% a year ago.

The company's shares rose about 4% in extended trading on the results, after closing at $125.01 in NY.

"Leading organisations of every size in every industry trust the Microsoft cloud", said Microsoft chief executive Satya Nadella. Microsoft's Azure is now not as expansive as Amazon's Web Service, but it is growing rapidly. Azure growth was 73 percent, consistent with the past several quarters. As usual, the company's biggest growth came from its cloud services segment, which saw a 41 percent revenue increase compared to the same period previous year.

Microsoft said Wednesday that its revenue hit 30.6 billion USA dollars in the third quarter ending on March 31, 2019, up 14 percent from the same period past year.

The jump in stocks was preceded by Microsoft announcement of its fiscal third-quarter earnings of US$1.14 per share, exceeding analyst's estimates.

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In Personal Computing, revenues rose a slower 8 percent to United States dollars 10.68 billion, while operating profit jumped 25 percent to USD 3.15 billion as Microsoft limited the increase in operating expenses to 1 percent.

More Personal Computing was again Microsoft's biggest business unit, earning $10.7 billion in revenues in the quarter, a gain of 14 percent. As ever, there's more murkiness around these numbers than we would like, with Microsoft still electing not to give a hard dollar figure for Azure.

Microsoft said revenue for the Surface line of devices rose 21% from a year earlier to US$1.3 billion.

The company's shares rose about 5 percent in pre-market trading Thursday, after closing at $125.01 in NY, bring the company closer to a $1 trillion market valuation.

Windows licensing revenue from computer makers grew 9% year over year, beating expectations after a 5% decline in the previous quarter. And operating income increased 25% with an EPS of $1.14. Commercial sales of the company's cloud application surged by 30 percent. This segment is accounting for more and more of Microsoft's revenue.

Microsoft's productivity applications also fared well, with total revenue up by 14 percent to $10.2 billion.


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