On Tuesday, Microsoft reported that its quarterly sales were up at one of the strongest rates in years, as the company was poised to surpass $ 2 trillion in market value.
Revenue soared to $ 41.7 billion in the third fiscal quarter, up 19 percent from a year earlier, the largest quarterly increase since 2018. Profits rose 44 percent to 15.5 billion dollars. The results surpassed both the company’s and Wall Street’s expectations, underlining how Microsoft and other major tech companies won the coronavirus pandemic.
Satya Nadella, CEO of Microsoft, said in a statement: “More than a year after the pandemic, digital adoption curves have not slowed down,” said Satya Nadella, chief executive officer of Microsoft. know. “They’re speeding up.”
The commercial cloud sales generated $ 17.7 billion in revenue, up 33 percent from a year earlier. Revenue from Azure, Microsoft’s flagship cloud computing product, grew 50%, while commercial Office 365 products grew 22% as enterprise customers adopted their computing and other tools. cloud.
According to data from Synergy Research Group, Microsoft has risen to the top of Amazon in cloud computing. Amazon has about a third of the growing market and Microsoft has already surpassed 20% of the market share.
Sales of personal computer products soared to $ 13 billion in the quarter, up 19%, as people bought more computers and chose new devices with larger screens during a pandemic to learn and work from home. Gaming revenue grew 50%, driven by spending on the new Xbox game console, which launched late last year, as well as Xbox content and services.
The company also benefits from fluctuations in exchange rates, as well as judicial rulings related to taxes in India.