Microsoft Tops Market Expectations
Microsoft reported results for the quarter ended March 31, 2019. The firm had earnings of $1.14 per share, excluding certain items, verses $1.00 which was expected. As to revenue, Microsoft noted $30.6 billion against $29.84 billion that investors anticipated.
“Leading organizations of every size in every industry trust the Microsoft cloud. We are accelerating our innovation across the cloud and edge so our customers can build the digital capability increasingly required to compete and grow,” said Satya Nadella, CEO of Microsoft.
Microsoft returned $7.4 billion to shareholders in the form of share repurchases and dividends in the third quarter of fiscal year 2019.
“Demand for our cloud offerings drove commercial cloud revenue to $9.6 billion this quarter, up 41% year-over-year,” said Amy Hood, executive vice president and chief financial officer of Microsoft. “We continue to drive growth in revenue and operating income with consistent execution from our sales teams and partners and targeted strategic investments.”