This translation has been automatically generated and has not been verified for accuracy.Microsoft Corp beat Wall Street estimates for quarterly revenue on Tuesday, powered by a slight uptick in growth in its flagship cloud computing business as the software maker continued to benefit from a global shift to working from home and online learning.
Revenue growth for Azure, the company’s flagship cloud computing business, was 48 per cent, up from 47 per cent in the previous quarter and ahead of Wall Street estimates of 43.45 per cent, according to consensus data from Visible Alpha.Microsoft has shifted to selling many of its products via recurring subscriptions, which investors like because it generates stable revenue flows.
Microsoft said 93 per cent of commercial cloud products were sold as subscriptions, compared with 94 per cent the quarter before. The company’s remaining performance obligations - a measure of how much revenue has been booked for the future in sales contracts but not yet formally recognized as revenue - stayed flat at $107 billion in the fiscal first quarter but was up from $86 billion a year prior.
Revenue from its personal computing division, which includes Windows software and Xbox gaming consoles, rose 6 per cent to $11.8 billion.
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