Finance, Internet

Stock Update: Microsoft Corporation (NASDAQ MSFT) Pops Up Due To Earnings Beat

Shares of Microsoft Corporation climbed by as much as 3% in after-hours trading. Microsoft Corporation (NASDAQ MSFT) released the earnings results from its most recently completed quarter tonight after closing bell, posting non-GAAP earnings of 65 cents per share on $23.2 billion in revenue. Analysts had been expecting earnings of 49 cents per share on $22 billion in revenue.

In the same quarter last year, Microsoft reported $18.52 billion in sales. Reported earnings per share this year were 54 cents, compared to 62 cents last year. The company’s non-GAAP results included a negative impact of 11 cents per share in connection with its restructuring plans and the integration of the Nokia Devices and Services acquisition.

“We are innovating faster, engaging more deeply across the industry, and putting our customers at the center of everything we do, all of which positions Microsoft for future growth,” said Microsoft CEO Satya Nadella in a statement. “Our teams are delivering on our core focus of reinventing productivity and creating platforms that empower every individual and organization.”

News on Microsoft Corporation (NASDAQ MSFT)

Revenue from the Devices and Consumer segment rose 47% to $10.96 billion for the quarter. Microsoft reported over $7 million in Office 365 subscriptions, $908 million in Surface tablets and 2.4 million Xbox consoles, an increase of 102%. Revenue from phones surpassed $2.6 billion in the quarter.

Commercial revenue increased 10% to $12.28 billion. Microsoft reported a 13% increase in revenue from server products and services. Commercial cloud revenue rose by 128%, while the company also logged double digit growth in Lync, SharePoint and Exchange. Microsoft also saw a 10% increase in Windows volume licensing revenue.

Microsoft Corporation (NASDAQ MSFT) Business News

“Customers are embracing our latest technologies from Surface Pro 3 and Office 365 to Azure and SQL Server,” Microsoft Chief Operating Office Kevin Turner said in a statement. “Through great execution by our sales teams and our partners, we have been able to deliver our truly differentiated value to the marketplace.”

Management said they will provide guidance in this evening’s earnings call.

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