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- Microsoft Earnings impress after strong revenue from its cloud system
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- Microsoft Earnings impress after strong revenue from its cloud system
News & AnalysisNews & AnalysisMicrosoft Earnings impress after strong revenue from its cloud system
28 April 2022 By GO MarketsTechnology leader Microsoft has released its quarterly report beating analysts’ expectations. The company’s balance sheet and price surge were largely driven by strong revenue in its cloud computing Azure unit but was well supported by its other service areas. The results for the company’s third quarter showed a double-digit growth figure with revenue of $49.4 Billion up 18% and net an income of $16.7 Billion. The company’s profit rose 8% from the corresponding period 12 months ago.
Company CEO, Satya Nadella had this to say about the results, “Going forward, digital technology will be the key input that powers the world’s economic output. Across the tech stack, we are expanding our opportunity and taking share as we help customers differentiate, build resilience, and do more with less.”
Much of Microsoft’s success can be attributed to how well diversified its services are. Many other technology stocks have struggled in recent times such as Meta, Google, and Netflix with slower growth and interest rate pressures. However, Microsoft has been able to stand tall as its services such as LinkedIn, Gaming, Cloud, and its cyber security were able to thrive. The Azure cloud system that Microsoft runs was the star performer growing by 47%. LinkedIn also proved to be a strong area for Microsoft, increasing its revenue by 34% for the year.
In the short term, as interest rate hikes loom and the world is dealing with the remnants of the Covid 19 pandemic and Russia and Ukraine there may still be some headwinds ahead. Microsoft is up against the markets as the NASDAQ recently fell to its lowest levels since 2020. Consequently, despite Microsoft’s strong performance, the company’s share price may still face a volatile short-term future. In the long term, Microsoft has shown that it has formed a strong defensive element against the longer-term macro threats.
The Microsoft share price closed the day up 4.81% from the day before.
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Disclaimer: Articles are from GO Markets analysts and contributors and are based on their independent analysis or personal experiences. Views, opinions or trading styles expressed are their own, and should not be taken as either representative of or shared by GO Markets. Advice, if any, is of a ‘general’ nature and not based on your personal objectives, financial situation or needs. Consider how appropriate the advice, if any, is to your objectives, financial situation and needs, before acting on the advice. If the advice relates to acquiring a particular financial product, you should obtain and consider the Product Disclosure Statement (PDS) and Financial Services Guide (FSG) for that product before making any decisions.
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