Microsoft Cloud: Empowering Business | High Revenue Results. Featured @ RJO Ventures, Inc.
Investors are pleased with Microsoft's MSFT +6.33% progress in the cloud business.
Microsoft reported financial results for the second fiscal quarter that beat Wall Street forecasts and investors reacted sending shares up by about 3%.
The Redmond, Wash-based tech giant said revenue for the quarter was $25.7 billion and earnings per share were 78 cents. Analysts had expected $25.26 billion in revenue with 71 cents in EPS.
Investors continue to focus on how well Microsoft is progressing in the cloud business with its Azure cloud and Office 365 products. Revenue in its “Intelligent Cloud” unit grew 5% from the previous year to $6.3 billion. Within that unit, cloud services revenue grew 10% and Azure revenue grew 140%. Microsoft said one third of Fortune 500 companies now use the company’s Enterprise Mobility services — up three times from the same quarter last year.
Source: Forbes