Budget Disclosed: Microsoft Stocks Rise Sharply: Microsoft Increases Profits and Sales | news

Strong cloud business helped software giant Microsoft generate significantly more sales in the last quarter. In the three months to the end of March, revenues increased 18 percent from the previous year to $ 49.4 billion (€ 46.4 billion), the company announced on Tuesday following the close of the US stock market. The bottom line is that Microsoft earned $ 16.7 billion, 8% more than a year ago.

In the third quarter of fiscal year 2022, Microsoft posted earnings per share of $ 2.22. This was up from the same period last year when the US company posted EPS of $ 1.95. On average, analysts had expected earnings to rise to $ 2.19 per share.

The group of computers can continue to rely on their cloud services. The Azure platform, which provides many other businesses and apps with IT services and network storage, achieved a 46% increase in sales. The Linkedin career portal, which has been part of the group since 2016, has increased its revenues by 34%. Activities related to the Xbox game console and hardware products such as “Surface” tablets also experienced significant growth. Overall, the quarterly data was slightly above expert expectations.

Microsoft shares temporarily recorded a 3.79% rise to US $ 280.46 in trading on Wednesday’s NASDAQ.

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