Microsoft reports strong growth for LinkedIn and cloud platform Azure in Q3 2020 - Business Insider

Advertiser demand went up 40% YoY on LinkedIn, while Microsoft's Azure saw revenues grow 48%.

Insider Intelligence analyzes this industry and several others to provide in-depth analyst reports, proprietary forecasts, customizable charts, and more. Spotlighting its focus on digital transformation, Microsoft announced strong Q3 2020 earlier this week. The tech giant's diversified portfolio of products and services for marketers and businesses fueled its 12% revenue increase this quarter.LinkedIn revenues grew 16% in Q3. With more than 722 million users worldwide, LinkedIn saw record-setting engagement levels on its platform. Microsoft credited a redesign that featured a new messaging experience, search functionality, and Stories.

Increased user engagement coupled with a recovering ad market means that advertisers are returning to LinkedIn. Microsoft said that advertiser demand on LinkedIn "returned to near pre-COVID levels" and was up 40% year over year . We estimate that LinkedIn's US ad revenues will grow 8.0% this year to $1.70 billion. The US B2B digital ad market will grow 22.

Commercial Office 365, which includes enterprise collaboration tool Teams, revenues grew 21% this quarter, as remote work remains the norm for many companies. This tracks with our estimates: This year, 69.0% of US companies with more than 100 employees will use communication and collaboration tools, up from the 54.0% of companies that used such tools last year.

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