Tech companies have been beating Wall Streets analysts expectation this year.
According to reports, it has been found out that Microsoft's revenues have rose 12% to $28.92 billion during the last quarters of 2017. Wall Street expected Microsoft's revenues to be $28.40 billion which was proved wrong by Microsoft. The company reported an operating income of $8.7 billion and net income of $7,5 billion which resulted in increase of shares to $0.96.
Apart from the usual business of Windows, Office and Xbox, Azure was the one which stood out among others. Microsoft's cloud computing unit (Azure) made its revenues jump to 98% on a year -on-year basis.
The one thing that resulted in Microsoft's loss was due to one time tax write off on account of new 'Tax Cuts and Jobs Act' that was passed recently. The company reported a GAAP net loss was $6.3 billion.
For more information-https://techcrunch.com/2018/01/31/microsofts-azure-revenue-nearly-doubled-year-over-year-in-its-second-quarter/
Apart from the usual business of Windows, Office and Xbox, Azure was the one which stood out among others. Microsoft's cloud computing unit (Azure) made its revenues jump to 98% on a year -on-year basis.
The one thing that resulted in Microsoft's loss was due to one time tax write off on account of new 'Tax Cuts and Jobs Act' that was passed recently. The company reported a GAAP net loss was $6.3 billion.
For more information-https://techcrunch.com/2018/01/31/microsofts-azure-revenue-nearly-doubled-year-over-year-in-its-second-quarter/
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