Microsoft Profit Expectations Cloud – CWEB.com
Today Microsoft Corp (MSFT.) reported better-than-expected quarterly profit and revenue on Thursday, helped by strong performance in its fast-growing cloud business.
Microsoft’s net income more than doubled to $6.51 billion or 83 cents per share in the quarter, from $3.12 billion or 39 cents per share in the year-earlier period.
Excluding one-time items, Microsoft earned 98 cents per share. On an adjusted basis, revenue rose 9.1 percent to $24.7 billion.
Analysts on average had expected an adjusted profit of 71 cents per share and revenue of $24.27 billion, according to Thomson Reuters