Microsoft Cloud Growth Takes Sting Out Of Tax Charge

Source Microsoft

The revenue in Intelligent Cloud, which includes server products, cloud services, and Enterprise Services, increased 15% to $7.8 billion.

Revenues rose 12.0% from past year to $28.92 billion, also topping analysts' view of $28.4 billion. There are now 29.2 million consumer subscribers to Office 365, reports Microsoft.

Redmond, Washington-based Microsoft reported second-quarter loss of $6.30 billion or $0.82 per share, compared to last year's profit of $6.27 billion or $0.80 per share.

MICROSOFT NEEDS TO KICK a few sales folks in the posterior as its PC business remained stagnant in the second quarter despite the launch of three new Surface models previous year. LinkedIn contributed $1.3B. But a one-time $13.8 billion (roughly Rs. 87,800 crores) tax charge, a result of the new United States tax law, tipped the company into the loss column to the tune of $6.3 billion (roughly Rs. 40,100 crores).

Dynamics also saw strong growth, with products and cloud services up 10% (9% CC), and Dynamics 365 up 67% (68% CC).

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Shares of the technology giant fell 1 percent in late trade. A significant chunk of that came from both its commercial cloud unit, which was up 53% to $5.3 billion, and its "Intelligent Cloud" Azure business, which rose 98% to $7.8 billion.

In the last quarter alone, Microsoft has jumped past its $600 billion market cap peak seen during the dot-com boom ( to about $715 billion, thanks to the cloud. Non-Pro revenue declined by 5% (5% CC), and Windows commercial products and cloud services declined by 4% (5% CC). "Our investments in IoT, data, and AI services across cloud and the edge position us to further accelerate growth".

Total revenue in the company's More Personal Computing division, which includes the Windows operating system, was $12.2bn, beating the $12bn average estimate of four analysts polled by Bloomberg. "I do, in general, expect our strong performance in Azure to continue", chief financial officer Amy Hood said in an interview. Microsoft said that gaming revenue was up 8 percent in the gaming industry's all-important holiday quarter.

And to end things on a down-note, phone revenue is still listed as immaterial, with a decline from this quarter past year of $204 million.

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