Business

Microsoft quarterly results perform above market expectations

Driven by Azure's impressive growth, the big tech reached a 14% increase in overall revenue

Microsoft Q1 results

Tech giant Microsoft has released this afternoon, October 23th, its results for the fiscal first-quarter of 2020. Lifted by the cloud growth, Bill Gates company reported $33.1 billion in revenue, up 14% more than in the same quarter of last year.

Beating market expectations, Microsoft profits also outperformed analyst’s estimations – getting to $10.7 billion, while in the same period of last year the company had reached $8.82 billion. When giving a closer look, the major result was registered by the cloud computing business and the largest Amazon Web Services competitor, Azure, which reported 59% of revenue growth.

READ ALSO: How Microsoft uses technology to empower people and businesses

Microsoft shares, however, didn’t follow the natural path and suffered a drop of around 1.2% to about $135 per share in after-hours trading. Other relevant figures disclosed that Office 365 Commercial exceeded 200 million monthly active users, as reported by Business Insider.