Published: Sat, October 27, 2018
Industry | By Dora Warner

Microsoft sales and profit beat estimates on cloud growth

Microsoft sales and profit beat estimates on cloud growth

Microsoft is in a good position to keep growing with the cloud market, Wedbush analyst Dan Ives wrote in a report this week before financial results were announced.

Microsoft was rallying Thursday, up nearly 5%, after reporting fiscal first-quarter results that topped Wall Street estimates but included a slowdown in revenue growth from its cloud-computing unit.

"We see continued demand for our cloud offerings, reflected in our commercial cloud revenue of $8.5 billion, up 47 percent year-over-year". On the back of this record quarter alone, Microsoft was able to return $6.1 billion to shareholders in the form of dividends and share purchases, which is, in itself an increase of 27% when compared to previous year.

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Overall, Microsoft's "more personal computing" segment grew 15 percent overall to $10.7 billion in revenue - the biggest of Microsoft's main three categories it tracks.

For FY19 Q1, Microsoft's Intelligent Cloud saw a 75% revenue hike for its Azure cloud, and the company's Server products/cloud services also grew by about 28%.

Money taken in by a productivity and business processes unit rose to $9.8 billion, including strong growth in cloud-based Office productivity products aimed at consumers and companies, according to Microsoft. Looking at the full year, Wall Street analysts are expecting a profit of $4.27 per share and revenue of $122.83 billion. You see that already with Minecraft going to all platforms and that increasing the intensity of the community and you'll see us do more of that. During the quarter, Microsoft returned $6.1 billion to shareholders in the form of dividends and share repurchasing.

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