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Microsoft’s earnings and revenue beat estimates

For the fiscal first quarter, Microsoft chalked in US$29.08 billion in revenue, higher than the US$27.90 billion expected by analysts.

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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.

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This information has been prepared by IG, a trading name of IG Markets Limited and IG Markets South Africa Limited. In addition to the disclaimer below, the material on this page does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. IG accepts no responsibility for any use that may be made of these comments and for any consequences that result. No representation or warranty is given as to the accuracy or completeness of this information. Consequently any person acting on it does so entirely at their own risk. Any research provided does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it. It has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication. Although we are not specifically constrained from dealing ahead of our recommendations we do not seek to take advantage of them before they are provided to our clients. International accounts are offered by IG Markets Limited in the UK (FCA Number 195355), a juristic representative of IG Markets South Africa Limited (FSP No 41393). South African residents are required to obtain the necessary tax clearance certificates in line with their foreign investment allowance and may not use credit or debit cards to fund their international account.