Microsoft turns in record first quarter as cloud revenues continue to grow
Microsoft turned in a record first quarter on Wednesday, thanks primarily to strong cloud growth.
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The tech giant saw revenues grow 19% to $29.1bn in the three months ended 30 September, while net income shot up 34% to $8.8bn.
Microsoft, which unveiled its new Surface Pro 6 and Surface Laptop 2 laptops recently, reported a 14% year-on-year improvement in sales of the devices as $1.1bn.
The Washington-based multinational also revealed that its gaming business had been growing steadily of late, with revenues up 44% quarter-on-quarter thanks to 94% increase in Xbox hardware revenues as a result of the Xbox One X's launch.
Microsoft also saw solid results in the form of Windows licensing revenues. Windows OEM Pro revenue was up 8% and Windows commercial products and cloud services revenue shot up 12% due to an increase in multi-year agreements with businesses. Non-Pro revenue decreased 5%.
Office commercial products and services revenue grew 17% and Office 365 commercial revenue grew 36% as monthly active users surpassed 155m. Office consumer revenue also improved 16%.
Microsoft's Azure revenue skyrocketed 76% and server products and cloud services shot up 28%.
As a whole, revenues at Microsoft's "intelligent cloud" division rose 24% year-on-year, marking $8.6bn worth of the firm's overall $29.1bn in revenues.
As of 2320 BST, Microsoft shares had climbed 2.62% in after-hours trading to $105 each.