Technology giant Microsoft, for the first time in the company's history, has crossed the $100 billion-mark in annual revenue for FY 18 ended June 28. Office commercial products and cloud services revenue was up 10 percent with consumer Office up 8 percent. Its market cap edged above $800 billion for the first time earlier this month.
Microsoft's Intelligent Cloud business unit, which consists largely of Azure, Server, and enterprise services, saw revenues grow 23 percent to $9.6 billion.
For fiscal 2018, Microsoft reported net income of $16.6 billion, or $2.13 a share, on revenue of $110.4 billion, up 14 percent.
Revenue for the company's LinkedIn business and job network grew 37 percent from the year-ago quarter, while its Dynamics 365 online business application suite posted a 61 percent increase.
Microsoft posts bumper Q4, with Windows, Surface, Azure all up
"This was another gem of a quarter from Microsoft as Nadella's cloud vision is coming to fruit on the heels of massive Azure growth and secular tailwinds", said Daniel Ives at research firm GBH Insights.
Diluted earnings per share came in at $1.15 for the quarter, again beating previous estimates of $1.07. And More Personal Computing, which includes Windows, the Xbox, and the Surface hardware business, was up 17%, to $10.8 billion. While it isn't likely to contract anytime soon, when you have a cash cow like Azure, it's important to reinvest that money in ways to open up new channels of revenue which is what we should all be watching as the Redmond company continues to move forward. The revenue brought in by Surface products was up 25%, and gaming had a healthy 39% increase. Search revenue was up 17 percent, with, as ever, the twin factors of increased revenue per search and increased search volume to thank.
"Microsoft continues to fire on all cylinders as the company benefits from its strong positioning across major secular compute themes (hybrid, intelligent cloud/intelligent edge, gaming).This, coupled with a favorable IT/macro environment, a Win10 replacement cycle, strong sales force execution and expense discipline, should enable Microsoft to continue to deliver accelerating operating profit and FCF generation in coming quarters".
Microsoft's results for Q4 outperformed analyst expectations, which were pegging revenue to fall somewhere in the $29 billion range.
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Despite a televised interview and numerous postings to Twitter, Trump did not correct himself until 27 hours later. Trump said he had been "very strong on the fact that we can't have meddling, we can't have any of that".
National Hot Dog Day: Hot To Get Free Franks & More Tasty Deals
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Trump suggests he will bring up indicted Russians with Putin
Coats has maintained an extremely low profile, rarely making public comments, since President Trump appointed him past year . This email will be delivered to your inbox once a day in the morning. "You know, I've called it a carve-out for this".