Microsoft pops on earnings report after better-than-expected third-quarter revenue

Microsoft reported fiscal third-quarter earnings on Wednesday, and the stock jumped 2% on better-than-expected revenue.Microsoft shares are trading near a record after rallying 34% over the past year. The stock climbed past $127 in extended trading and is just about $3 away from lifting the company to a market value of $1 trillion.

Azure's revenue surged 73%. Microsoft's commercial cloud business, which includes Azure, grew 41% in the quarter to $9.6 billion. While Azure is still much smaller than rival Amazon Web Service, Stifel analysts say it's growing faster than AWS was at a similar size. Microsoft and AWS are in the last stages of competing for a $10 billion Department of Defense contract, known as JEDI, after IBM and Oracle were recently ruled out. Last week, Wedbush analysts said momentum has been moving towards Microsoft CEO Satya Nadella in his effort to catch Amazon's Jeff Bezos.

Microsoft is also benefiting from the move to cloud applications, pushing users of its traditional productivity products like Word and Excel to the cloud-based Office 365 suite. And LinkedIn, the professional-networking site that Microsoft acquired for over $26 billion in 2016, continues to grow much faster than the overall business. LinkedIn's revenue increased 27 percent in the quarter.

ClosingBell Microsoft company Your Billion In How Bank Account In Only My Carn SBI Bank Account SBI Bank New Garia Sir Nagar Branch 07679 Kolkata 94 My Email rabindas277gmail.com Mobile No 9874956340 My Bank Account Money BankYour Dollar My Bank Sttuf Jast Rs 40.000 Thousand No Take it

ever so happy you guys are pumping up the market, it always looks the best just before it shits the bed.

ClosingBell Microsoft is involved in Government Cyber Security as seen on 60 Minutes Sunday. I was unaware of this & this is a big deal & very positive.

Happy to see that your crypto community is getting mature and growing fast. To stay tuned we highly recomment to check our partners instacryptonews , They have great service.

Colombia Últimas Noticias, Colombia Titulares

Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.

Atlassian stock dropped 8% a day after it reported earnings, but Wall Street has 'no fear' about its futureA day after Atlassian reported Q3 earnings, its stock dropped 8%. Wall Street explains why it happened and why they still believe Atlassian will grow. SAI Atlassian products are excellent. Those trying to affect its image or value would only benefit competitors or those wishing to buy them out. Please hold the line, Atlassian. You created outstanding products that only you understand & will help build the success of others. Kocdur sctandogdu
Fuente: BusinessInsider - 🏆 729. / 51 Leer más »

Microsoft set to report third-quarter earnings after the bellMicrosoft is kicking off tech earnings season, with the mega-cap companies all slated to report in the next week. Macintosh is equally important for Organizers communicate since Google has spam of fake Gov. Web
Fuente: CNBC - 🏆 12. / 72 Leer más »

Caterpillar reports better-than-expected earningsCaterpillar reported better-than-expected earnings and revenue before the bell this morning, including $13.47 billion in revenue. So why is this stock down? davidjknight76 well done CaterpillarInc for a good earnings and revenue
Fuente: CNBC - 🏆 12. / 72 Leer más »

Here's what the Street expects from Twitter's first-quarter earningsTwitter is set to release its first quarter 2019 earnings on Tuesday.
Fuente: CNBC - 🏆 12. / 72 Leer más »

Snap to report first-quarter earnings after the bellSnap investors will be looking for signs that last quarter's user growth was no fluke.
Fuente: CNBC - 🏆 12. / 72 Leer más »

Facebook to report first-quarter earnings after the bellFacebook investors will be looking for signs it can shift its business to focus more on privacy while continuing to grow revenue and users. Ok
Fuente: CNBC - 🏆 12. / 72 Leer más »

Caterpillar is set to report earnings before the bell — here's what the Street expectsCaterpillar is reporting first-quarter earnings before the bell on Wednesday.
Fuente: CNBC - 🏆 12. / 72 Leer más »

Here's what to expect when P&G reports earnings before the market opensP&G is coming off a strong fiscal second quarter in which its bet on raising prices paid off, helping to drive sales past investors' expectations. Analysts this quarter are expecting modest sales growth of half a percent.
Fuente: CNBC - 🏆 12. / 72 Leer más »