Another strong performance from the tech giant. As announced by Microsoft, the company’s financial results for the quarter ending September 30 see revenue up 12% from the same period last year to $37.2 billion, while net income has climbed by a remarkable 30% to hit $13.9 billion over the last quarter. The good results for Q1 2021 follow Microsoft’s outstanding Q4 2020 performance, with a reported $38 billion in revenue.

Some of the business highlights Microsoft listed in the announcement of its financial results that took a major part in driving the growth were The Productivity and Business Processes section — which includes Microsoft Office and LinkedIn amongst others — saw revenue grow by 11%, while revenues in the Intelligent Cloud section were up by 20%. Lastly, More Personal Computing announced a revenue increase of 6%, including a 30% revenue increase in Xbox content and services.

“The next decade of economic performance for every business will be defined by the speed of their digital transformation. We are innovating across our full modern tech stack to help our customers in every industry improve time to value, increase agility, and reduce costs,” Microsoft CEO Satya Nadella said.

The company’s Executive Vice President and CFO Amy Hood concluded, “Demand for our cloud offerings drove a strong start to the fiscal year with our commercial cloud revenue-generating $15.2 billion, up 31% year over year. We continue to invest against the significant opportunity ahead of us to drive long-term growth.”

 

Posted by:Staff

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