From PC World: Microsoft reported first-quarter calendar earnings that beat estimates, although profits and revenue both declined. The company said that its customers have begun embracing its cloud offerings, especially Office 365.
Microsoft reported net income of $5.66 billion for the March quarter, down about 7 percent compared to the net income of $6.1 billion Microsoft reported a year ago. Microsoft also reported $20.40 billion in revenue, a 0.4 percent decrease compared to the $20.49 billion it reported for the first calendar quarter of 2013.
Analysts polled by Yahoo Finance expected Microsoft to report earnings of 63 cents per share (versus the 68 cents per share the company reported) on revenue of $20.39 billion.
Microsoft’s revenue continued to be driven by its enterprise businesses. Its Commercial businesses, combining its Commercial Licensing and Other units, reported revenue of $12.23 billion. But Microsoft’s three Consumer business units demonstrated the sharpest growth, up 12 percent to a total revenue of $8.30 billion.
“This quarter’s results demonstrate the strength of our business, as well as the opportunities we see in a mobile-first, cloud-first world," said Satya Nadella, chief executive officer at Microsoft, in a statement. "We are making good progress in our consumer services like Bing and Office 365 Home, and our commercial customers continue to embrace our cloud solutions. Both position us well for long-term growth. We are focused on executing rapidly and delivering bold, innovative products that people love to use.”
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