10/27/2020, 9:04 PM (Source: TeleTrader)
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Microsoft tops estimates with revenue of $37.2B in Q1

Microsoft Corporation said on Tuesday its revenue in the first quarter of fiscal 2021 amounted to $37.2 billion, marking a 12% jump from the same period a year ago and topping estimates. Server products and cloud services revenue grew 22%, driven by a 48% surge in Azure revenue.

The tech giant's diluted earnings per share climbed 31% year on year to $1.82 and net income soared 30% to $13.9 billion.

"The next decade of economic performance for every business will be defined by the speed of their digital transformation," CEO Satya Nadella stated. "We are innovating across our full modern tech stack to help our customers in every industry improve time to value, increase agility, and reduce costs," he added.

Microsoft shares rose 1.33% in after-hours trading on better-than-expected results.

Breaking the News / NP