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

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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).

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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 across key growth categories of infrastructure, AI, productivity and business applications to deliver differentiated value to customers.”

World news in pictures

World news in pictures

  • 1/50 26 April 2018

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  • 2/50 25 April 2018

    Rohingya refugees gather in the "no man's land" behind Myanmar's boder lined with barb wire fences in Maungdaw district, Rakhine state bounded by Bangladesh. Myanmar government said on April 15, it repatriated on April 14 the first family of Rohingya out of some 700,000 refugees who have fled a brutal military campaign, a move slammed by a rights group as a PR stunt ignoring UN warnings that a safe return is not yet possible.

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  • 3/50 24 April 2018

    President Donald Trump, French President Emmanuel Macron, first lady Melania Trump and Brigitte Macron hold hands on the White House balcony during a State Arrival Ceremony in Washington.

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  • 4/50 23 April 2018

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  • 5/50 22 April 2018

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  • 6/50 21 April 2018

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  • 7/50 20 April 2018

    A Palestinian slings a shot by burning tires on the Israel-Gaza border, following a demonstration calling for the right to return. Palestinian refugees either fled or were expelled from what is now the state of Israel during the 1948 war.

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  • 8/50 19 April 2018

    Outgoing Cuban President Raul Castro raising the arm of Cuba's new President Miguel Diaz-Canel after he was formally named by the National Assembly, in Havana. A historic handover ending six decades of rule by the Castro brothers. The 57-year-old Diaz-Canel, who was the only candidate for the presidency, was elected to a five-year term with 603 out of 604 possible votes in the National Assembly.

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  • 9/50 18 April 2018

    Turkey's President Recep Tayyip Erdogan announces early presidential and parliamentary elections for June 24, 2018, at the Presidential Palace, in Ankara. Erdogan announced the snap elections, originally scheduled for November 2019, in a move that will usher in a new political system increasing the powers of the president. He said the new system needed to be implemented quickly in order to deal with a slew of challenges ahead, including Turkey's fight against Kurdish insurgents in Syria and Iraq.

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  • 10/50 17 April 2018

    European lawmakers raise placards reading "Stop the War in Syria" in protest against airstrikes launched by the US, Britain and France in Syria last week criticizing the legitimacy of the operation, as French President Emmanuel Macron delivers his speech at the European Parliament in Strasbourg. Macron is expected to outline his vision for the future of Europe to push for deep reforms of the 19-nation eurozone and will launch a drive to seek European citizens' opinions on the European Union's future.

    AP

  • 11/50 16 April 2018

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  • 12/50 15 April 2018

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  • 13/50 14 April 2018

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  • 14/50 13 April 2018

    Indian activists gather to show support for the chairperson of the Delhi Commission for Women Swati Maliwal, who is on a hunger strike against the alleged rapes in Uttar Pradesh, Jammu and Kashmir, in New Delhi, India. According to news reports Maliwal is sitting on hunger strike demanding that authorities take strict actions against the alleged rapists.

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  • 15/50 12 April 2018

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  • 16/50 11 April 2018

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  • 17/50 10 April 2018

    Syrian onlookers gather around rescue teams clearing the rubble at the site of an explosion of unknown origin which wrecked a multi-storey building the previous night in the war-battered country's northwestern city of Idlib. The cause of the explosion in the jihadist-held city, which killed more than a ten people and wounded 80, according to the Britain-based Syrian Observatory for Human Rights monitoring group, was not immediately clear.

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  • 18/50 9 April 2018

    Protesters try to block French gendarmes during an evacuation operation in the zoned ZAD (Deferred Development Zone) in Notre-Dame-des-Landes, near Nantes, France.

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  • 19/50 8 April 2018

    Competitors cross the start line at the annual Pyongyang Marathon.

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  • 20/50 7 April 2018

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  • 21/50 6 April 2018

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  • 22/50 5 April 2018

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  • 23/50 4 April 2018

    Presidents Hassan Rouhani of Iran, Tayyip Erdogan of Turkey and Vladimir Putin of Russia pose before their meeting in Ankara.

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  • 24/50 3 April 2018

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  • 25/50 2 April 2018

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  • 26/50 1 April 2018

    Pope Francis greets the crowd at St Peter's square after the Easter Sunday Mass in the Vatican. Christians around the world are marking the Holy Week, commemorating the crucifixion of Jesus Christ, leading up to his resurrection on Easter.

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  • 27/50 31 March 2018

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  • 28/50 30 March 2018

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  • 29/50 29 March 2018

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  • 30/50 28 March 2018

    French gendarmes escort the coffin of the late Lieutenant Colonel Arnaud Beltrame transported by car during a funeral procession leaving the Pantheon as part of a national tribute in Paris. The French President will lead a national commemoration to hostage-swap policeman Arnaud Beltrame killed in jihadist attack.

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  • 31/50 27 March 2018

    Russian President Vladimir Putin visits a memorial made for the victims of a fire in a multi-story shopping center in the Siberian city of Kemerovo. Officials say that the fire escapes were blocked and a PA system was turned off during the fire that killed over 50 people.

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  • 32/50 26 March 2018

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  • 33/50 25 March 2018

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  • 34/50 24 March 2018

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  • 35/50 23 March 2018

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  • 36/50 22 March 2018

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  • 37/50 21 March 2018

    Kosovo's opposition lawmakers release a teargas canister inside the country's parliament in before a vote for an agreement to ratify or not a border demarcation deal signed in 2015 with Montenegro.

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  • 38/50 20 March 2018

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  • 39/50 19 March 2018

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  • 40/50 18 March 2018

    President Vladimir Putin walks out of a voting booth at a polling station during Russia's presidential election in Moscow.

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  • 41/50 17 March 2018

    People take part in a pensioners protest to demand decent pensions in Barcelona. Thousands of people across the country took part in mass demonstrations called by main Spanish workers unions demanding rises of state pensions in accordance with the consumer price index

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  • 42/50 16 March 2018

    Russian President Vladimir Putin visits the Almazov National Medical Research Centre in Saint Petersburg.

    AFP/Getty

  • 43/50 15 March 2018

    Vladimir Putin chairs a meeting with members of the Security Council in Moscow.

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  • 44/50 14 March 2018

    German Chancellor Angela Merkel is sworn in by the President of the German lower house during the government's swearing-in ceremony at the Bundestag in Berlin. Merkel, head of the Christian Democratic Party CDU, starts her fourth term as German chancellor, capping months of political uncertainty as she bartered with her rivals of the SPD to help govern Europe's top economy in a "grand coalition".

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  • 45/50 13 March 2018

    Nepali students of University of Dhaka light candles in memory of the victims of the US-Bangla aircraft crash in Nepal, Bangladesh.

    Reuters

  • 46/50 12 March 2018

    Rescuers work to save passengers from a plane crash at Kathmandu airport in Nepal.

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  • 47/50 11 March 2018

    French President Emmanuel Macron and his wife Brigitte Macron pose for photographs as they visit the Taj Mahal.

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  • 48/50 10 March 2018

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  • 49/50 9 March 2018

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  • 50/50 8 March 2018

    Protesters form triangles with their hands during a demonstration for women’s rights in Bilbao, Spain.

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The company's results showed 42 per cent commercial revenue growth for Office 365 – the subscription and cloud-based version of Microsoft Office that enables businesses to access their files from anywhere.

Consumer user numbers of Office 365 were also up, with subscribers increasing to 30.6 million.

Microsoft's chief financial officer Amy Hood said the company had beaten expectations for the quarter.

Microsoft's Satya Nadella's facial expressions sum up mood amongst tech CEOs about Trump

“With consistent investment and strong sales execution, this quarter we achieved better-than-expected performance across all segments,” she said.

“We delivered double-digit revenue and operating income growth driven by 58 per cent growth in our commercial cloud revenue.”

PA

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