Microsoft's fiscal 1T shines with the help of new bright spots
Microsoft's fiscal 1T shines with the help of new bright spots
The expansion of Microsoft Corp. beyond its empire in personal computer software was rewarded in its fiscal first quarter, as it extracted new revenue sources in online subscriptions, games and its professional networking service LinkedIn.
The software maker Windows and Office of Redmond, Washington, said on Wednesday it made $ 8.8 billion during the three months that ended in September, an increase of 34 percent from last year.
Earnings per share reached $ 1.14 to exceed the average estimate of 96 cents per share among analysts surveyed by Zacks Investment Research.
Revenues increased 19 percent from last year to $ 29.1 billion, also easily surpassing analysts' average forecast of $ 27.7 billion, according to Zacks.
The results announced Wednesday night were lifted. MicrosoftThe shares increased by 2.3 percent to $ 104.70 in extended operations, setting the company to recover a portion of what it lost at the beginning of the day in a large sale of technology stocks.
Although Microsoft still gets most of its money from the sales and licensing of its Windows operating system and the suite of Office programs installed on PC, the company has been diversifying into new lucrative areas since Satya Nadella replaced Steve Ballmer as CEO. 4 1/2 years ago .
Most importantly, Microsoft has been selling subscriptions that provide access to its software programs through Internet connections so customers can use the software on any device, including smartphones and tablets. It is also hosting websites for other companies in competition against Amazon Y Google. Revenues from its website hosting operations, Azure, increased 76 percent from last year in the last quarter, more than any other line of business.
Nadella also designed a $ 26 billion acquisition of LinkedIn in 2016 to give it a place in employment services and business networks, two niches that attract corporate clients that Microsoft is focusing on more and more. LinkedIn's revenue rose 33 percent in the last quarter.
Microsoft also hopes to gain momentum after another recent agreement to buy GitHub, the computer's meeting place, is completed. That $ 7.5 billion acquisition is expected to close before the end of the year.
Video games are also eliminating Microsoft, in large part thanks to its Xbox console and popular titles like Minecraft. The company's gaming revenue during the first fiscal quarter increased 44 percent from last year.
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The elements of this story were generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research.
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