Amidst the Covid-19 pandemic waves, Microsoft earned a revenue of $3 billion in its three months sales record. The American multinational technology company income exceeded Wall Street Analysts’ expectations for a quarterly revenue.
According to the report released by Wall Street Analysts, the pandemic is a factor contributing to the continued surge in the tech business ranging from computer software apps, gaming system to cloud, which during the lockdown had helped many businesses to run.
For its fiscal second quarter, Wall Street had predicted $40.2 billion as against the $43.1 billion revenue posted by Microsoft which is a 17% increase compared to the same period in 2020.
Microsoft posted that its income hit $15.5 billion which is $2.03 per share compared to the $1.64 earnings per share Wall Street predicted.
The surge according to Microsoft CEO is a digital transformation in the company’s history, which has endowed the company with a competitive edge amongst other comprehensive cloud platforms. In her statement, she mentioned that the continuous demand for technical know-how by business enterprises and individuals during the pandemic, to drive sales increased the company’s stock.
While gathering the reports, Wall Street Analysts disclosed that the company’s stock up by 6 percent, which after sharing the the report increased by 3 percent.
According to them, virtually every services of Microsoft increased, especially Microsoft’s Azure cloud platform, which competes with Amazon Web Services and Google Cloud, accelerated to 50%, compared to the previous quarter.
Also, one of the essential tool for businesses tagged Office 365 Commercial on Commercial Cloud had a revenue growth of 34%, with the total of $16.7 billion.
Other cloud apps such as Azure (cloud business) and Microsoft’s new Xbox Series X and Series S have continued to increase.
However, despite the increase, the Company expects double digits growth of its revenue and operating income in 2021 at the end of its fiscal year