undergroundnewsroom.com February 23, 2018

Microsoft Cloud Push Gains Ground on Azure, Office 365

27 October 2017, 12:51 | Clyde Nash

Microsoft earnings: 84 cents a share vs 72 cents EPS expected

Microsoft edges above US$600 billion market cap

Server products and cloud services grew by 17% (17% in CC), and that mostly includes the 90% (89% in CC) increase in Azure revenue. For those keeping score at home, Microsoft's commercial cloud rollup includes Azure; Office 365 business services (Exchange Online, SharePoint Online, Skype for Business Online, Microsoft Teams); Dynamics 365; and its Enterprise Mobility + Security Suite (EMS).

Microsoft said commercial cloud annualised revenue run rate reached US$20.4b in the quarter.

Under CEO Satya Nadella, Microsoft's cloud business - which includes products such as Office 365, Dynamic 365 and the flagship Azure computing platform - has emerged as a major source of growth.

Microsoft reported a better-than-expected quarterly profit as demand for its cloud computing services for companies rose and its personal computer software business stabilised.

In fiscal 2017, this segment fell 4%, reporting ~$38.8 billion in revenues and contributing 43% to overall revenues.

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"Our strong start to the fiscal year reflects the impact of our continued investment in product innovation and sales capacity to capture expanding market opportunities", said Amy Hood, executive vice president and chief financial officer at Microsoft.

Microsoft's shares had risen almost 27 percent this year through Thursday, eclipsing the 14.4 percent gain in the broader S&P 500 .SPX .

In the year-ago-quarter, Microsoft reported earnings per share of $0.76 on revenue of $22.33 billion. As usual, cloud services continue to be among the fastest growing parts of Microsoft's business. Office 365 commercial revenue has increased by 42 percent while the consumer version of Office 365 now has 28 million subscribers.

Despite Microsoft's More Personal Computing division remaining relatively flat (which, historically is a good thing) there were gains to be had for a few standout products. Surface hardware sales jumped 12 percent largely driven by the new Surface Laptop. Notably, Surface sales has gone up for the first time in a long while. Surface revenue increased by 12 percent and gaming revenue was up only 1 percent (Xbox revenue grew 21 percent, but was offset by lower hardware revenue).

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