Microsoft has released their earnings report for the Q3 of their 2018 fiscal year (as distinct from the calendar year).
Referring to the company's investments in AI and cloud, Satya Nadella, Microsoft's CEO, said Microsoft has "made the right investments and they're having an impact, increasing our overall share in an expanding market". Revenue rose to $26.82 billion from $23.21 billion in the year-ago period. These third-party titles would most likely be the massively popular Fortnite, or even Microsoft's partnered Rare title Sea of Thieves.
Perhaps most notable, the company reported commercial cloud sales soared 58% to $6 billion. Microsoft has been boosting spending to build new cloud data centers as Amazon and No. 3 USA cloud provider Google do the same.
The cloud transition is changing the company's business model to one with a rising share of steady, recurring revenue from cloud subscriptions rather than traditional software sales.
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On Wednesday, he said the company had continued to see declines in users engaging with certain content, such as viral videos. Facebook said the average number of daily active users over March had risen to to 1.45 billion, a 13% increase year-on-year.
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In addition, the Japanese government is increasingly pressuring drug companies to limit or cut prices of blockbuster medicines. Inc.to develop and sell its cancer drug Lenvima, both alone and in combination with Merck's immunotherapy product, Keytruda.
Microsoft shareholders normally worry about spending, but they've been willing to overlook increases to bolster the cloud business, Forrest said.
On the conference call, Hood gave an optimistic first look at the fiscal year that starts July 1, noting that the "key drivers of our business should remain intact".
Recently Microsoft aquired gaming start-up PlayFab, and it announced a major reorganization that included the departure of Windows and Devices chief Terry Myerson from the company. This includes $9.92bn, up 13 per cent, year on year, from personal computing stuff: Windows, Surface and similar hardware, gaming, and search ads.
Office commercial products and cloud services revenue grew by 14% (12% CC), and Office 365 commercial revenue grew by 42% (40% CC). Microsoft, offering a hybrid cloud solution to businesses transitioning from on-premise data centers to the cloud, reported Azure's growth at 98% last quarter.