Microsoft's results for the fourth quarter are out and because of cloud business the company's shares have reportedly jumped over 3% since the release.
Azure revenue grew 102% with Azure compute usage more than doubling year-over-year. Surface and Windows also saw a particular amount of momentum with Windows OEM non-Pro's revenue growing 27%.
Besides a total revenue of 22.6 billion US dollars, here's what else you need to know:
- Total revenue has shown a decline of 7 percent year-on-year.
- Operating income was $3.1 billion (compared to a $2.1 billion loss in the same quarter last year).
- Net income was also $3.1 billion
- Diluted earnings per share was $0.39
- During the quarter, Microsoft returned $6.4 billion to shareholders
Satya Nadella, Microsoft's CEO, said in a statement that the past year has been pivotal in both the company's and their partners digital transformations.
Nadella also mentioned that Microsoft Cloud is doing significantly well.
"The Microsoft Cloud is seeing significant customer momentum and we're well positioned to reach new opportunities in the year ahead.
According to the report, the current quarter effective tax rate reflected a mix of Microsoft's income between the U.S. and foreign countries, as well as benefits associated with distributions from foreign affiliates.
Amy Hood, Microsoft's executive vice president and chief financial officer, said that for this fiscal year, the company invested in innovation and expanded their market presence.
“I am pleased with the execution from our sales teams and partners this quarter who delivered a strong finish to the fiscal year."