(Reuters) - Microsoft Corp
Since Chief Executive Officer Satya Nadella took over in 2014, Microsoft has been focussing more on cloud-based services, while reducing its reliance on Windows operating system software.
That strategy has helped Microsoft tap booming demand for cloud-based services, making it the most valuable company, with a market capitalisation of about $1.04 trillion.
Revenue growth in Azure was 64% in the reported quarter, compared with 89% a year earlier and 73% in the prior quarter.
Revenue in Microsoft's productivity software unit jumped 14.3% to $11.05 billion, powered by double-digit revenue growth for LinkedIn and Office 365. Analysts on average had expected revenue of $10.71 billion, according to IBES data from Refinitiv.
Microsoft's net income rose to $13.19 billion, or $1.71 per share, in the quarter ended June 30 from $8.87 billion, or $1.14 per share, a year earlier. (https://bit.ly/2JDI8Jq)
Excluding items, the company earned $1.37 per share, topping estimates of $1.21 per share.
Total revenue rose 12% to $33.72 billion, above average analysts' estimates of $32.77 billion.
Shares of Microsoft rose nearly 1% to $137.62 in extended trading.
(Reporting by Vibhuti Sharma in Bengaluru; Editing by Anil D'Silva)
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Updated Date: Jul 19, 2019 04:05:35 IST