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Microsoft tops $1 trillion, looks to the cloud
- Friday | 26th April, 2019
Azure, Microsoft’s flagship cloud product, competes with market leader Amazon Web Services (AWS) to provide computing power to businesses. (Reuters) – Microsoft Corp on Wednesday briefly topped $1 trillion in value for the first time after executives predicted continued growth for its cloud computing business. The “productivity and business process” unit that includes both Office as well as social network LinkedIn had $10.2 billion revenue versus expectations of $10.05 billion. Microsoft’s so-called “intelligent cloud” unit, which contains its Azure services, posted revenue of $9.65 billion, above Wall Street estimates of $9.28 billion, according to IBES data from Refinitiv. Total revenue rose 14% to $30.57 billion, beating analysts’ average estimate of $29.84 billion, according to IBES data from Refinitiv.
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