7:00 AM, Oct 24, 2019 — Microsoft (MSFT) posted better-than-expected results for its fiscal first quarter after markets closed on Wednesday, buoyed by double-digit growth in its commercial cloud offering.
The Redmond, Wa.-based company reported revenue of $33.06 billion, up 14% from the corresponding quarter of the prior year. This was comfortably ahead of the consensus estimate of analysts polled by Capital IQ for $32.2 billion.
Revenue in Productivity and Business Processes was $11.1 billion and increased 13%. Revenue in Intelligent Cloud was $10.8 billion and increased 27%. Revenue in More Personal Computing was $11.1 billion and increased 4%.
Earnings per share rose to $1.38, up from $1.14 a year earlier, sailing past the Street’s projection of $1.24 per share.
“It was a strong start to the fiscal year with our commercial cloud generating $11.6 billion in revenue for the quarter, up 36% year over year,” Amy Hood, chief financial officer of Microsoft, said.
Microsoft returned $7.9 billion to shareholders in the form of dividends and share repurchases in the first quarter of fiscal year 2020, an increase of 28% compared to the first quarter of fiscal year 2019.
Companies: Microsoft Corporation
Price: 138.65 Price Change: +1.41 Percent Change: +1.03