Microsoft on Wednesday reported earnings that topped expectations, and its stock rose 4.8% in after-hours trading above the closing price of US$102.32.
For the fiscal first quarter, Microsoft chalked in US$29.08 billion in revenue, higher than the US$27.90 billion expected by analysts.
Earnings per share was at US$1.14, higher compared to US$0.84 per share in the same period a year ago. Analysts had expected earnings of US$0.96 per share.
The company saw strong double-digit growth from many of its core products, such as LinkedIn, and Office 365 productivity suite. The firm’s gaming sales grew by 44% year-on-year.
Microsoft’s cloud computing service Azure saw revenue up by 76%, slipping from the 89% growth in the earlier quarter. Analysts had been expecting an Azure slowdown, with Amazon’s cloud business growing slower. Azure is said to account for 7% of Microsoft’s total annual revenue, according to estimations from analysts at advisory firm Evercore.
For the second quarter, the company expects a US$31.9 billion to US$32.7 billion in revenue, including the contribution from GitHub.
Microsoft’s stock rose up to 4.8% in after-hours trading above the closing price of US$102.32 on Wednesday.