Microsoft posts better than expected financial results as revenue grows 16% in a year

CEO says results vindicate focus on cloud products
Microsoft reported steady growth in its latest round of financial results as the company's chief executive praised the performance of its cloud services.
The technology giant reported revenue of $26.8bn (£19.2bn), a 16 per cent increase on the same quarter last year.
The company's net income also rose 35 per cent to $7.4bn (£5.3bn).
Read more Microsoft women filed 238 discrimination and harassment complaints Tech Giants Amazon, Microsoft, Google and IBM Keep Their Heads in the Cloud Windows tool shows how much of your personal data Microsoft collects Chief executive Satya Nadella, who has overseen a shift in the firm's focus away from hardware such as smartphones and towards its software and cloud products such as Office 365, said the results reflected industry faith in the move.
“Our results this quarter reflect the trust people and organisations are placing in the Microsoft Cloud,” he said.
“We are innovating a..

Microsoft’s Cloud Has Business Booming Again

Microsoft’s Cloud Has Business Booming Again
Microsoft, more than any other traditional software company, has swiftly and profitably made the shift to delivering software as an internet service.
The technology giant reinforced how well is has made that transition on Thursday, when it reported strong gains in both profits and sales in its fiscal third quarter, led by the rapid growth of its cloud software business.
The company’s net income rose 35 percent from a year earlier, to $7.4 billion. Revenue rose 16 percent to $26.8 billion in the quarter, exceeding the Wall Street consensus forecast of nearly $25.8 billion.
Microsoft’s earnings per share increased 36 percent to 95 cents a share, well above the analysts’ average estimate of 85 cents a share, compiled by Thomson Reuters.

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Since Satya Nadella became chief executive in 2014, the cloud portion of Microsoft’s revenue has soared from 3 percent to more than 21 percent this year, accord..

Amazon's revenue surges by 43 per cent pushing shares to record high

Company has become a recurring target for Donald Trump
Amazon’s profits surged past Wall Street predictions for the first quarter of 2018, pushing company shares to an all-time high.
The company’s revenue grew 43 per cent year over year to $51bn (£36.6bn), a figure that includes its earnings from acquiring upscale grocery chain Whole Foods and exceeded projections. Earnings per share came in at $3.27 (£2.3bn), outpacing analysts’ estimates of roughly $1.26 (£0.9bn).
Its cloud-computing unit Amazon Web Services also posted strong gains, registering a 49 per cent in sales over the previous year and generating some $1.4 bn (£1bn) in operating income. CEO Jeff Bezos who said the numbers vindicated a longstanding focus on the service.
Read more Amazon will now deliver packages to the boot of your car Amazon forces people to buy James Comey book if they want to review it Amazon Prime has passed the 100 million customer mark, says Jeff Bezos “AWS had the unusual advantage of a seven-yea..

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Unlike in U.S., Facebook Faces Tough Questions in Britain

Unlike in U.S., Facebook Faces Tough Questions in Britain

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Facebook’s Tech Chief Faces U.K. Lawmakers

Mike Schroepfer, Facebook’s chief technical officer, had an awkward moment on the subject of Russian disinformation in front of the Digital, Culture, Media and Sport Committee at the British House of Commons.

By PARLIAMENTARY RECORDING UNIT, VIA ASSOCIATED PRESS.

Photo by Peter Nicholls/Reuters.

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LONDON — Facebook’s chief executive, Mark Zuckerberg, escaped tough questioning during congressional testimony this month in part because American lawmakers weren’t well versed about how the social network functions. On Thursday, one of his deputies faced a decidedly sharper inquisition from a panel in Britain.
The dueling experiences highlight the different approaches taken on both sides of the Atlantic toward oversight of personal data and the social media giants who hold it. While the United States has largely eschewed regulating companies li..