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Quarterly profit of Microsoft exceeded forecasts due to cloud services

Microsoft reported a good profit in the fourth quarter of the fiscal year thanks to the fast-growing cloud business, giving rise to hopes that the company is gaining momentum again after the stagnation.

23.Jul.17 6:38 AM
By Daria Zaytseva


Quarterly profit of Microsoft exceeded forecasts due to cloud services

The revenue from the cloud division, which includes Azure's flagship platform and server products, grew about 11% to $ 7.43 billion in the quarter ended June 30.

Analysts waited for the revenue of the cloud division at $ 7.32 billion, according to research firm FactSet. The revenue from Azure, a direct competitor of the cloud platforms AWS company, for the quarter has almost doubled.

At the same time, the revenue of the personal computer division, which includes the Windows operating system and Surface tablets, fell by 2%.

Microsoft reported that it reflected in the balance sheet related to the restructuring of the write-off of $ 306 million after the reorganization of the sales and marketing teams, which the company announced earlier in July. Restructuring has led to the reduction of thousands of Microsoft employees.

Microsoft's net income more than doubled to $ 6.51 billion, or 83 cents per share, from $ 3.12 billion, or 39 cents a share, a year earlier.

The profit, except for one-off items of the balance sheet, was 98 cents per share.

Adjusted revenue increased by 9.1% to $ 24.7 billion.

Analysts, on average, expected adjusted earnings of 71 cents per share and revenues of $ 24.27 billion.

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