Microsoft modestly beats Wall Street expectations on earnings, stock goes nowhere (MSFT)

Microsoft FY18 Q2 earnings: $28.9 billion in revenue backed by cloud, Office growth

Its cloud services and storage business, which includes server software and Azure, grew 15% year over year.

The revenue of Office commercial products and cloud services, including Office 365 commercial showed a growth of 10%, while the Office consumer products and services revenue grew 12%. This was largely driven by Office 365, which is finally taking off in a big way with subscriptions up an impressive 41 percent. Surface revenue increased just 1 percent year-on-year as sales of more premium devices were offset by lower volumes.

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Microsoft topped Wall Street expectations again in the second quarter of its fiscal year, as the cloud continues to drive strong financials for the company. LinkedIn contributed $1.3B.

Reuters Microsoft Corp. beat Wall Street's profit forecast on Tuesday, helped by growth in its cloud computing business, but took a $13.8 billion one-time charge due to the new USA tax law.

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The Redmond, Wash. tech giant reported earnings of 96 cents per share on revenue of $28.9 billion, an increase of 12 percent over this time a year ago. The tech giant declared a quarterly profit increase of 16% in first quarter on the strength of its commercial cloud business that includes Azure, Office 365, Dynamics 365, and Enterprise mobility. CEO Satya Nadella is adding machine learning and data analysis features to Azure, seeking to woo customers from market leader

The company's shares were little changed in extended trading following the report, after closing at a record $95.01 in NY. Non-Pro revenue declined by 5% (5% CC), and Windows commercial products and cloud services declined by 4% (5% CC). Overall, Microsoft (MSFT) reported better-than-expected earnings ( for its fiscal second quarter, even as the company reported a net loss because of a whopping $13.8 billion charge associated with changes in the US tax code.

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Microsoft's Q2 star was unquestionably the Intelligent Cloud division, which brought in revenue of $7.8 billion. That's above the FactSet consensus estimate of $12.02 billion in revenue for More Personal Computing. "Strong execution from our sales teams and partners is driving growth across our businesses". Revenue from Surface hardware was little changed from a year ago, and gaming revenue rose 8%, fuelled by the release of the high-end Xbox One X console. While shares didn't move much in late trading Thursday, they were already up 11% this year, while the Dow Jones Industrial Average, which counts Microsoft as a component, is up 5.8%.

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