Microsoft on Tuesday reported a jump in profits in the recently ended quarter, keeping strong momentum from accelerated gains in cloud computing during the pandemic.

Profits for the fiscal fourth quarter rose 47 percent to $16.5 billion and revenue grew 21 percent to $46.2 billion.

"We are innovating across the technology stack to help organizations drive new levels of tech intensity across their business," said Satya Nadella, chairman and chief executive officer of Microsoft.

"Our results show that when we execute well and meet customers' needs in differentiated ways in large and growing markets, we generate growth, as we've seen in our commercial cloud - and in new franchises we've built, including gaming, security, and LinkedIn, all of which surpassed $10 billion in annual revenue over the past three years."

The results included a 20 percent rise in revenue in Microsoft's Office commercial products and cloud services, and a 46 percent increase in revenue for its LinkedIn professional social network.

Microsoft boosted its "intelligent cloud" revenue by 30 percent, a key segment for the company which has shifted its emphasis from consumer to enterprise services.

Analyst Dan Ives at Wedbush Securities said that amid a move to cloud computing and a hybrid work trend "the company continues to be a major beneficiary of this trend on its flagship Azure/Office 365 franchise."

Microsoft shares dipped some 2.8 percent in after-hours trade.

Related Links
Satellite-based Internet technologies

Tweet

Thanks for being here; We need your help. The Space Media Network continues to grow but revenues have never been harder to maintain. With the rise of Ad Blockers, and Facebook - our traditional revenue sources via quality network advertising continues to decline. And unlike so many other news sites, we don't have a paywall - with those annoying usernames and passwords. Our news coverage takes time and effort to publish 365 days a year. If you find our news sites informative and useful then please consider becoming a regular supporter or for now make a one off contribution.
SpaceMediaNetwork Contributor $5 Billed Once credit card or paypal		SpaceMediaNetwork Monthly Supporter $5 Billed Monthly paypal only

China's Tencent ordered to give up exclusive music rights in antitrust crackdown
Beijing (AFP) July 24, 2021
Chinese tech giant Tencent must relinquish its exclusive music label rights, the market regulator said Saturday, after finding that the firm had violated antitrust laws. The ruling is the latest in a crackdown on China's tech sector after years of runaway growth, as Beijing frets over the companies' growing influence as well as the security of troves of sensitive consumer data. Tencent acquired a majority stake in rival China Music Group in 2016, effectively controlling more than 80 percent of e ... read more