The company's investments in cloud and edge continue to payoff as Nadella noted that Microsoft topped $100 billion in revenue for the year. Really good. According to Microsoft, it earned a net income of $8.9 billion and a revenue of $30.1 billion for the quarter, which ended on June 30.
"Exceptional sales execution delivered double-digit revenue growth across all segments and strong progress against our strategic priorities, anchored by commercial cloud revenue growing 53 per cent year-over-year to $6.9 billion", said Amy Hood, Executive Vice President and Chief Financial Officer of Microsoft.
Revenues of $30.1bn were up 17 per cent from $25.6bn in Q4 2017.
Microsoft has been investing heavily to bolster the fast-growing cloud business and catch up with market leader Amazon.com Inc's Amazon Web Services. Part of Nadella's plans to retool Microsoft included pivoting its resources from its Windows operating system software to its newer Azure cloud computing business.
"Our hybrid value proposition has continued to resonate, so there are a bunch of workloads that are migrating to the cloud", the Microsoft boss said.
Kawhi Leonard Will Reportedly Consider Sitting Out All Season For The Raptors
DeRozan does that (while the Lakers and Sixers would not throw in key pieces such as Brandon Ingram or Markelle Fultz ). It is going to be very hard for the Raptors to sell the city of Toronto over Leonard's hometown Los Angeles.
Moves into business services and cloud computing have reduced Microsoft's dependence on Windows, the dominant software for personal computers that has been overtaken in the consumer market by mobile devices powered by Google or Apple software.
Notably, this marks the end of Microsoft's 2018 fiscal year.
The MPC group grew 17% to $10.81 billion, making them still the largest division of the Redmond, WA-based giant. for the time being. Microsoft's Surface business also saw significant growth for the quarter, posting a 25 percent gain over the same time previous year.
"Surface notebook revenue increased 25 per cent driven by strong performance of the latest editions of Surface against a low prior year comparable", the company said.
Wall Street was looking for fourth quarter earnings of $1.08 a share on revenue of $29.2 billion.