Microsoft gets a boost from the cloud, beats profit forecast

Investor Eyes On Microsoft Corp. Stock Today as More Good Cloud News Seen

Source Johannes Marliem Via Flickr

Office commercial revenue grew 10 percent, Office consumer revenue was up 12 percent, and Dynamics revenue increased 13 percent.

Microsoft's shares had risen almost 27 per cent this year through Thursday, eclipsing the 14.4 per cent gain in the broader S&P 500.

The company reported a total of $24.538 billion in revenue, which is a 12% (11% in constant currency) increase from past year, which was $21.928B. In 2015, a year after being named the company's CEO, Satya Nadella said he wanted Microsoft to hit that target sometime in 2018 - a big jump up from the $6.3 billion business it was back then.

Kid Rock: Of course I'm not running for Senate
Rapper and singer Kid Rock became a mainstream success in the '90s when he delivered hits such as " Bawitdaba " and "Cowboy". A fan stands outside the Little Caesars Arena last month, encouraging Kid Rock to run for U.S.

Microsoft purchased LinkedIn, the professional social network, in December for $27 billion, in part, to boost the Dynamics business. In the previous quarter, Microsoft said its run rate exceeded $18.9 billion and that Azure revenue growth was 97 percent.

The software and cloud giant's shares rose about 4 percent in after-hours trading as a result. As usual, things like Surface, Office 365, cloud services like Azure, and Windows all saw growth. The rest is a 2% (2% in CC) increase in server revenue.

Revenue from Microsoft's personal computing division, its largest by revenue, fell 0.2 per cent to US$9.38b but handily beat analysts' estimate of US$8.81b. Windows OEM revenue went up by just four percent and commercial Windows and cloud services increased by seven percent. In advertising, Microsoft reported a 15 percent revenue increase - excluding traffic acquisition costs - which the report says is driven by higher revenue per search and search volume.

Colin Kaepernick will attend next meeting between National Football League players and owners
After the October 17 meeting, Kaepernick's lawyer said Kaepernick is "open to future participation" in the meetings. National Football League spokesman Joe Lockhart said he expects Kaepernick will be invited, according to ESPN .

Surface revenue finally saw some growth, as it had been declining for a while due to the lack of new hardware. Surface revenue increased by 12 percent and gaming revenue was up only 1 percent (Xbox revenue grew 21 percent, but was offset by lower hardware revenue). Microsoft doesn't break out revenue for its Windows business.

The technology company, based in Redmond, Washington, reported net income of US$6.58 billion, or 84 cents per share, up from US$5.67 billion, or 72 cents per share, a year earlier.

United Kingdom growth up 0.4 pct in Q3
The eurozone's growth rate also caught up with the United Kingdom in 2016, and has outpaced the United Kingdom so far this year. On an annual basis, GDP expanded by 1.5 per cent in the third quarter, compared to the same three months in 2016.

Latest News