Microsoft profit climbs as cloud grows

Microsoft hits $100bn in revenue for the first time thanks to cloud, Surface growth

Surface revenue jumped 25 per cent to $1.1 billion, "driven by strong performance of the latest editions of Surface" says Microsoft, while gaming revenues increased by 39 per cent.

The results-for both the quarter and the entire fiscal year-can only be described as astonishing, especially when you consider that Microsoft is in the midst of a transition from its old business model to one that is focused on cloud computing.

"We had an incredible year, surpassing $100 billion in revenue as a result of our teams' relentless focus on customer success and the trust customers are placing in Microsoft", said Satya Nadella, CEO, Microsoft. We're investing aggressively in content, community, and cloud services across every end-point to expand usage and deepen engagement with gamers.

On a conference call with investors, Nadella attributed the strong results in part to a recent reorganization of the company's engineering teams to prioritize cloud computing and artificial intelligence over its legacy software products and Windows operating system.

For the full year, Microsoft said it earned $16.6 billion on $110.4 billion in revenue.

Analysts surveyed in advance by Yahoo Finance expect Microsoft to post earnings of $1.08 on $29.2 billion in revenue.

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Even Bing, Microsoft's search engine that most people consider a bit of a flop when compared to Google, did well, growing 17% year on year in the fourth financial quarter of 2018.

Revenue from productivity products (consumer and commercial Office software and cloud services, LinkedIn, Dynamics products) grew 13% to $9.7 billion.

Intelligent Cloud revenues were $9.6bn, up 20 per cent. Server business revenues were up 24 per cent. Meanwhile, Office consumer products and cloud services revenue was up by eight percent, with Office 365 consumer subscribers increasing to 31.4 million. Sales of Office 365 software rose by 38 per cent.

Server products and cloud services revenue increased 26 per cent driven by Azure revenue growth of 89 per cent. That's down slightly from an increase of 93 that the business reported in the third quarter.

On the gaming side, which includes everything from Xbox hardware to Xbox Live subscriptions to revenue from games made by Microsoft as well as other studios, the company reported its first ever $10 billion year.


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