Microsoft Reports Financial Results for the First Quarter | Financial Buzz

Microsoft Reports Financial Results for the First Quarter

Microsoft Corporation (NASDAQ: MSFT) reported financial results for the first quarter ended September 30th, 2020.  The company reported revenue of USD 37.2 Billion or a 12% increase compared to the same period a year ago.  Operating income increased 25% to USD 15.9 Billion while net income amounted to USD 13.9 Billion and rose 30% compared to the same period a year ago.  Diluted earnings per share summed up to USD 1.82, a 32% rise year over year. 

“The next decade of economic performance for every business will be defined by the speed of their digital transformation,” said Satya Nadella, chief executive officer of Microsoft. “We are innovating across our full modern tech stack to help our customers in every industry improve time to value, increase agility, and reduce costs.”

“Demand for our cloud offerings drove a strong start to the fiscal year with our commercial cloud revenue generating $15.2 billion, up 31% year over year,” said Amy Hood, executive vice president and chief financial officer of Microsoft. “We continue to invest against the significant opportunity ahead of us to drive long-term growth.”

Productivity and Business Processes revenue amounted to USD 12.3 Billion, a 11% increase year over year due to a rise in Office Commercial products and cloud services, Office Consumer products and cloud services, LinkedIn and Dynamic products and cloud services revenue.