Microsoft Azure Revenue Grew 120 Percent YoY in Q3 Earnings Report
Microsoft reported earnings for its fiscal third quarter, which ended March 31, this week, and the company has missed Wall Street estimates, driving its stock down as much as 5 percent on Thursday.
Microsoft reported net income of $3.76 billion, or 47 cents a share, down from $4.99 billion, or 61 cents a share a year ago, according to a report by the New York Times.
Despite this, Microsoft CEO Satya Nadella remained optimistic, noting that its “clear” Microsoft is one of two leaders in the cloud market, second of course to AWS.
Among the bright spots was Office 365 where subscription revenue grew 63 percent. Microsoft Azure revenue rose 120 percent while server products and cloud services grew 5 percent, respectively. Usage of Azure compute and Azure SQL database more than doubled year over year.
For other highlights of Microsoft’s earnings, Talkin’ Cloud sister site Supersite for Windows has broken down some of the key points.