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Tag: Amy Hood

  • Microsoft’s Latest Quarter Is a Mixed Bag

    Microsoft’s Latest Quarter Is a Mixed Bag

    Microsoft delivered its quarterly results Wednesday and it was a mixed bag of news.

    Microsoft delivered an impressive $50.1 billion in revenue, an increase of 11% over the year ago quarter. Despite the increased revenue, however, net income was down 14%, coming in $17.6 billion.

    The company’s results are very much in line with the overall state of the economy, and the tech sector in particular. While the pandemic fueled massive growth in the personal computer, tablet, and smartphone market, those markets have slowed as things have returned to normal. That reality is reflected in Microsoft’s earnings, with Windows OEM revenue dropping 15%. In fact, revenue from More Personal Computing decreased slightly overall, coming in at $13.3 billion.

    Cloud computing was one of the company’s bright spots. Server products and cloud services revenue was up 22%, with Azure and cloud services revenue up 35%.

    “In a world facing increasing headwinds, digital technology is the ultimate tailwind,” said Satya Nadella, chairman and chief executive officer of Microsoft. “In this environment, we’re focused on helping our customers do more with less, while investing in secular growth areas and managing our cost structure in a disciplined way.”

    “This quarter Microsoft Cloud revenue was $25.7 billion, up 24% (up 31% in constant currency) year-over-year. We continue to see healthy demand across our commercial businesses including another quarter of solid bookings as we deliver compelling value for customers,” said Amy Hood, executive vice president and chief financial officer of Microsoft.

  • Microsoft Quarterly Report Smashes Expectations on Strong Cloud

    Microsoft Quarterly Report Smashes Expectations on Strong Cloud

    Microsoft has reported its latest quarterly earnings, smashing Wall Street expectations on strong cloud growth.

    Microsoft reported revenue of $51.7 billion, an increase of 20% from the year-ago quarter. Earnings per share came in at $2.48, an increase of 22%. In contrast, analysts were expecting the company to report $50.1 billion, and earnings per share of $2.31. Similarly, net income came in at $18.8 billion, an increase of 21%.

    Microsoft is currently the second-largest cloud provider, behind AWS and ahead of Google Cloud. The company’s cloud results didn’t disappoint, growing by 32% year-over-year to $22.1 billion.

    “Digital technology is the most malleable resource at the world’s disposal to overcome constraints and reimagine everyday work and life,” said Satya Nadella, chairman and chief executive officer of Microsoft. “As tech as a percentage of global GDP continues to increase, we are innovating and investing across diverse and growing markets, with a common underlying technology stack and an operating model that reinforces a common strategy, culture, and sense of purpose.”

    “Solid commercial execution, represented by strong bookings growth driven by long-term Azure commitments, increased Microsoft Cloud revenue to $22.1 billion, up 32% year over year” said Amy Hood, executive vice president and chief financial officer of Microsoft.

  • Microsoft Beats Estimates on Strong Cloud Performance

    Microsoft Beats Estimates on Strong Cloud Performance

    Microsoft has announced its FY22 Q1 results, beating analysts expectations on strong cloud growth.

    Microsoft reported revenue of $45.3 billion, an increase of 22% over last year. Revenue easily topped analysts’ expectations of $44 billion. The company’s profit for the quarter came in at $17.2 billion, up 24%.

    Notably, much of the Microsoft’s results were driven by continued cloud adoption. The company’s revenue for its Intelligent Cloud division, which includes Azure, was $17.0 billion, representing a 31% increase over the previous year.

    “Digital technology is a deflationary force in an inflationary economy. Businesses – small and large – can improve productivity and the affordability of their products and services by building tech intensity,” said Satya Nadella, chairman and chief executive officer of Microsoft. “The Microsoft Cloud delivers the end-to-end platforms and tools organizations need to navigate this time of transition and change.”

    “We delivered a strong start to the fiscal year with our Microsoft Cloud generating $20.7 billion in revenue for the quarter, up 36% year over year,” said Amy Hood, executive vice president and chief financial officer of Microsoft.

    Overall, Microsoft appears to have delivered on what Wedbush analyst Daniel Ives predicted would be another “Picasso-like masterpiece quarter.”

  • Microsoft Tops Forecasts on Strong Cloud Results

    Microsoft Tops Forecasts on Strong Cloud Results

    Microsoft has announced its quarterly results, topping forecasts on strong Azure performance.

    Microsoft has been firing on all cylinders, recently becoming just the second company to cross the $2 trillion valuation mark. Multiple analysts have raised the company’s stock target, citing its cloud business, which benefits from the Microsoft’s strong legacy business.

    The latest quarterly results bear out that optimism, with the company reporting $46.2 billion in revenue, an increase of 21%. Significantly, the company’s Intelligent Cloud revenue came in at $17.4 billion, up 30%. Azure growth, in particular, was a whopping 51%. Overall net income for the quarter was $16.5 billion, an increase of 47%.

    The company’s revenue for Fiscal Year 2021 was $168.1 billion, up 18%. Net income was $61.3 billion GAAP, an increase of 38%.

    “We are innovating across the technology stack to help organizations drive new levels of tech intensity across their business,” said Satya Nadella, chairman and chief executive officer of Microsoft. “Our results show that when we execute well and meet customers’ needs in differentiated ways in large and growing markets, we generate growth, as we’ve seen in our commercial cloud – and in new franchises we’ve built, including gaming, security, and LinkedIn, all of which surpassed $10 billion in annual revenue over the past three years.”

    “As we closed out the fiscal year, our sales teams and partners delivered a strong quarter with over 20% top and bottom-line growth, highlighted by commercial bookings growth of 30% year over year,” said Amy Hood, executive vice president and chief financial officer of Microsoft. “Our commercial cloud revenue grew 36% year over year to $19.5 billion.”

  • Microsoft Trounces Earnings Forecast on Cloud, ‘Digital Transformation’

    Microsoft has trounced earnings estimates on strong cloud and PC results, in what CEO Satya Nadella called “a second wave of digital transformation.”

    Just a day after Wedbush raised its Microsoft target price, the company smashed expectations with its Q2 earnings. In particular, cloud performance and PC sales helped propel results.

    The company reported revenue of $43.1 billion, an increase of 17% and handily beating analysts’ estimates of $40.2 billion. Net income was $15.5 billion, an increase of 33%.

    The company’s Intelligent Cloud business accounted for $14.6 billion, a 23% increase. Similarly, the More Personal Computing division accounted for $15.1 billion, an increase of 14%.

    “What we have witnessed over the past year is the dawn of a second wave of digital transformation sweeping every company and every industry,” said Satya Nadella, chief executive officer of Microsoft. “Building their own digital capability is the new currency driving every organization’s resilience and growth. Microsoft is powering this shift with the world’s largest and most comprehensive cloud platform.”

    “Accelerating demand for our differentiated offerings drove commercial cloud revenue to $16.7 billion, up 34% year over year,” said Amy Hood, executive vice president and chief financial officer of Microsoft. “We continue to benefit from our investments in strategic, high-growth areas.”

  • Microsoft Reports Stellar Quarter, Fueled By Cloud Earnings

    Microsoft Reports Stellar Quarter, Fueled By Cloud Earnings

    Microsoft has reported its results for the quarter ending September 30, and it was good news for the company and its cloud business.

    Like many tech companies, Microsoft’s business has seen significant growth as a result of the coronavirus pandemic and the move to remote work. Its cloud business, in particular, has seen stellar growth.

    The company reported revenue of $37.2 billion, representing a 12% increase over the year-ago quarter. Operating income came in at $15.9 billion, an increase of 25%, while net income increased 30% to $13.9 billion.

    Office 365 Commercial revenue grew some 21%, driving Office Commercial products and services revenue up 9% as a whole. Similarly, Dynamics revenue was up 19%, with Dynamics 365 up 38%.

    “The next decade of economic performance for every business will be defined by the speed of their digital transformation,” said Satya Nadella, chief executive officer of Microsoft. “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.”

    “Demand for our cloud offerings drove a strong start to the fiscal year with our commercial cloud revenue generating $15.2 billion, up 31% year over year,” said Amy Hood, executive vice president and chief financial officer of Microsoft. “We continue to invest against the significant opportunity ahead of us to drive long-term growth.”

    Microsoft’s results illustrate the fundamental shift the pandemic has created, with effects that will last far longer than the cause.

  • Microsoft Beats Estimates, Powered by Strong Cloud Growth

    Microsoft Beats Estimates, Powered by Strong Cloud Growth

    Microsoft has announced its quarterly results, beating estimates as a result of its strong cloud growth.

    As the coronavirus pandemics has swept the globe, companies have been moving to the cloud in record numbers. This has enabled them to remain functional and productive, despite millions of American employees working from home. Microsoft, in particular, has benefited from this thanks to its complete technology stack—from local operating systems and office software, to full cloud platform.

    “The last five months have made it clear that tech intensity is the key to business resilience. Organizations that build their own digital capability will recover faster and emerge from this crisis stronger,” said Satya Nadella, chief executive officer of Microsoft. “We are the only company with an integrated, modern technology stack – powered by cloud and AI and underpinned by security and compliance – to help every organization transform and reimagine how they meet customer needs.”

    The company’s position helped it hit $38 billion in revenue, an increase of 13% over the year-ago-quarter. Its operating income was $13.4 billion and its net income was $11.2 billion.

    “Our commercial cloud surpassed $50 billion in annual revenue for the first time this year. And this quarter our Commercial bookings were better than expected, growing 12% year-over-year,” said Amy Hood, executive vice president and chief financial officer of Microsoft. “As we drive growth across the company, we remain committed to investing in long-term strategic opportunities.”

  • Microsoft Reports Quarterly Results, Azure Scores Big

    Microsoft Reports Quarterly Results, Azure Scores Big

    Microsoft has released its quarterly earnings for the third quarter of fiscal 2020, and Azure stands out as one of the company’s big hits.

    Analysts were deeply interested in Microsoft’s earnings for this quarter, in view of the ongoing coronavirus pandemic. How the company faired would be a good indicator of the overall impact the pandemic is having. In its earnings, Microsoft beat analysts exceptions, reporting revenue of $35 billion, representing a 15% increase over the year-ago-quarter.

    A particular standout was the company’s Azure cloud business, which saw revenue growth of 51%.

    “We’ve seen two years’ worth of digital transformation in two months. From remote teamwork and learning, to sales and customer service, to critical cloud infrastructure and security – we are working alongside customers every day to help them adapt and stay open for business in a world of remote everything,” said Satya Nadella, chief executive officer of Microsoft. “Our durable business model, diversified portfolio, and differentiated technology stack position us well for what’s ahead.”

    “In this dynamic environment, our sales teams and partners executed a solid third quarter, with Commercial Cloud revenue generating $13.3 billion, up 39% year over year,” said Amy Hood, executive vice president and chief financial officer of Microsoft. “We remain committed to balancing operational discipline with continued investments in key strategic areas to drive future growth.”

    The quarterly report was good news, and Microsoft made a point of highlighting that the pandemic had minimal impact on its revenue. However, there was a note of caution, as the company acknowledged “the effects of COVID-19 may not be fully reflected in the financial results until future periods.”