The news came up from the headquarter of Microsoft situated in San Francisco. Microsoft posted that, their revenue for the recent quarter is climbed high. Profitable sectors for the Microsoft is cloud computing and artificial intelligence services.
Microsoft which is one of the best tech giants in the world reported that the net income of the firm is climbed to 10%. In terms of currency is increased by $8.8 billion.
They achieves this good results from all the business segments including gaming, internet advertisement, business services along with some of the consumer software like windows, LinkedIn which is recently started by Microsoft. It is the social network for professionals.
The share price of Microsoft is up by more than 3%. In the early hours of trade on Thursday when the company discloses the excellent amount of profits for the recently ended quarter, the share price of Microsoft is $107.80.
Statement of Satya Nadella
Satya Nadella who is the chief executive of the company stated that the secret behind the good amount of profits is, company decision of investing in services like bright cloud and sharp edge. Investments in these services are paying off to the company.
He also stated that the company would continue to grasp the opportunity from the markets to reach more and more consumer segment. Microsoft is working with different innovation for growth in the market.
Recently while talking to one of the analysts, Their executive stated that we are expecting some other years of growth. Our expectations are not baseless rather the services in which the company invests like computing is growing each day. Microsoft is in an excellent position to tackle the demand for computing.
Nadella also stated that the cloud computing service of Microsoft competes well with services of Google and Amazon.
They expands their service in 54 regions which is many more than any other service providers of cloud computing.
According to the reports of Microsoft, LinkedIn adjusted $9.7 billion in this recent quarter. Revenue of LinkedIn is increased up to 37% as compared to the previous year.
Microsoft posted the net income for this fiscal year $16.6 billion on revenue. Profits of Microsoft climbs to $110.4 billion. Which is 14% more than the previous year.