Azure, Microsoft’s cloud computing business, saw revenue growth of less than 50 percent for the first time in a long time. The company announced this on July 22, 2020 after the close of trading on the New York Stock Exchange known. Net income decreased 15 percent from $ 13.19 billion ($ 1.71 per share) a year earlier to $ 11.20 billion ($ 1.46 per share).
The share price of the group fell by 3 percent. Microsoft shares have soared around 34 percent so far this year, while the Dow Jones Industrial Average declined by 5 percent.
Revenue increased 13 percent to $ 38.03 billion in the fourth quarter of the fiscal year ended June 30, exceeding analyst estimates of $ 36.5 billion. The profit was also above the analysts’ forecasts.
According to Microsoft, sales in the Intelligent Cloud segment rose 17 percent to $ 13.4 billion, with Azure growing 47 percent.
“The past five months have made it clear that technical intensity is the key to resilience for companies. Companies that build their own digital skills will recover faster and emerge stronger from this crisis.”Microsoft chief Satya Nadella said in a statement.
The Personal Computing division’s sales increased 14 percent to $ 12.9 billion, exceeding analyst estimates of $ 11.46 billion. The division includes Windows software, Xbox game consoles, online search engine advertising and Surface PCs. Windows OEM sales grew 7 percent