Microsoft’s Cloud biz December quarter sales cross $50 billion
Microsoft’s revenue continued to grow last quarter as its cloud services business stayed strong. Microsoft said its sales hit $51.7 billion in the quarter end of December and its net income rose 21% to $18.8 billion. According to FactSet, the results beat the predictions of business analysts who were expecting $50.7 billion in revenue and $17.5 billion in net income.
The overall cloud revenue of Microsoft has increased 32% from the year earlier quarter to $22.1 billion. Microsoft’s cloud infrastructure service is called Azure and it grew by 46% which is slightly lower than the prior quarter’s 48% growth.
Microsoft has benefitted from the shift of remote working after the pandemic hit. Many companies, governments and schools across the world have started turning to more cloud based technologies. According to a CIO survey, Microsoft is expected to have the largest share of new corporate cloud technology over the next three years.
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