Microsoft Corp., the American multinational technology company, headquartered in Redmond, Washington, had revealed its quarterly earnings’ revenue Q2, 2019, on Thursday (July 18th) which had sanguinely beaten Wall St.
expectation, as persistent growth of its cloud business had continued to pan out and met with sheer success, torrenting Microsoft Corp.’s share price to an all-time-high to $140.26 per share during Friday’s (July 19th) pre-market trading.
As a matter of fact, Since Microsoft Chief Executive, Satya Nadella, 51, an Indian-American business executive, hailing from Hyderabad, had taken over office back in the 2014s, Microsoft Corp. had been turning away from its conventional Windows Operating System software business and leaning more towards cloud services, a market dominated particularly by Microsoft’s Azure and Amazon.com Inc.’s cloud services.
Although Microsoft did not provide an absolute figure generated by Azure in revenues, but added it with its “intelligent cloud unit,” which had reported a revenue generation of $11.4 billion during the quarter ended in June 30th, beating analysts’ forecast of $11 billion, Refinitv data revealed.
Aside from that, the Nasdaq’s asteroid, Microsoft Corp., had also added into its quarterly earnings’ that its Azure had grown by 64 percent during Q2, while on a year-on-year basis, growth of Microsoft’s cloud service had almost doubled up and on a quarter-on-quarter basis, the Azure grew 73 percent from a quarter earlier.
Adding that the Microsoft were getting more and more dependent on its cloud service for revenues and growth, a chief economist for Microsoft shareholder, Capital Investment Counsel, Hal Eddins said, “The pressure was obviously on but they executed.
The cloud is such a key driver of growth for them and they seem to have painted a big bullseye on the back of AWS!”