Software giant Microsoft reported boom Q1 2022 quarter earnings Tuesday after the close as both revenue and earnings beat expectations. Microsoft Cloud generated $20.7 billion in revenue for the quarter, up 36% year over year.
Software giant Microsoft reported boom Q1 2022 quarter earnings Tuesday after the close as both revenue and earnings beat expectations. Microsoft Cloud generated $20.7 billion in revenue for the quarter, up 36% year over year.
Microsoft is the clear No. 2 provider of on-demand computing processing and storage behind market pioneer Amazon.com.
Microsoft First Quarter Earnings After Tuesday Close
$2.27 Beat EPS $2.07 Forecast and $45.32B Beat Revenue $43.97 Billion Forecast
Conference call: 5:30 p.m.
Earnings
Microsoft’s fiscal first-quarter 2022 revenue rose by 22% to $45.32 billion for the period ending Sept. 30, compared to the same period a year ago. Analysts surveyed by Refinitiv had forecasted $43.97 billion for the quarter. MSFT generated $17.21 billion of net income with earnings per share of $2.27, beating analyst estimates of $2.07.
“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,” Microsoft CEO Satya Nadella said in a statement.
Market Reaction 316.30▲ 6.19 (▲2.00%)After Hours
Highlights
All of Microsoft’s segments produced better growth than analysts expected in the first three months of the company’s fiscal year, which followed last quarters launch of a new Xbox and a new version of Windows.
Microsoft Cloud
“The Microsoft Cloud delivers the end-to-end platforms and tools organizations need to navigate this time of transition and change.” Microsoft CEO Satya Nadella said in a statement.
“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.
- Revenue in Microsoft’s intelligent cloud increased 31% to $17 billion.
- In addition to strong cloud services results, the company noted that its revenue from productivity and business processes increased 22% to $15 billion.
Microsoft also reported that it returned $10.9 billion to shareholders in the form of share repurchases and dividends in the first quarter of fiscal year 2022, an increase of 14% compared to the first quarter of fiscal year 2021.
Source: MSFT
Live From The Pit
From The TradersComputers News Desk