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Microsoft Revenues Exceed Expectations With Video Game Sales Help
Microsoft Revenues Exceed Expectations With Video Game Sales Help

Microsoft Revenues Exceed Expectations With Video Game Sales Help

Company on Tuesday Reported $ 37.2 billion Revenue for the three months ended September was higher than Wall Street analysts’ estimates of $ 35.8 billion.
Earnings in Of Microsoft (MSFT) Intelligent cloud revenue reached $ 13 billion, up 20% from a year earlier, including a 48% year-over-year growth in Azure revenue. Personal computing revenue rose 6% to $ 11.85 billion, driven by sales of Xbox and Microsoft Surface devices.

Earnings for the quarter were $ 1.82 per share, exceeding $ 1.55 per share.

“The next decade of economic performance for every business will be determined by the speed of their digital transformation,” Nadella said in an interview with analysts on Tuesday.

Analysts say the company’s cloud business growth is still in its infancy.

Wedbush analyst Dan Ives said in a note to investors on Tuesday: “This cloud shift and dynamic WFH look here to stay and the company stands to be a major beneficiary of this trend.”

Investors may have some concerns about Azure’s growth rate, despite strong earnings. Microsoft shares fell nearly 2 percent in after-hours trading on Tuesday night. Azure’s revenue growth rate of 48% in the quarter was down from 59% in the same period last year.

However, some analysts argue that the slowdown is due to the size of the business. Nadella said Tuesday he expects technology spending to double in the next 10 years.

Gaming also brings significant growth opportunities for Microsoft.

“Gaming is one of the largest and fastest growing forms of entertainment in the world,” said Kyle Vikstrom, Microsoft’s director of investor relations.

Microsoft is accelerating the release of newer video game consoles, the Xbox Series X, and the more budget Xbox Series S this coming week. How vending machines could impact a tech company’s personal computing in the next quarter. Both players will compete with Sony’s PlayStation 5 and the cheaper version of the device.

“We are seeing an excellent response early on to the console to launch next quarter,” said Vikstrom.

Last quarter, Microsoft also announced it had acquired ZeniMax, the parent company of video game publisher Bethesda. The acquisition gives Microsoft more ownership over popular video games including the “Fallout” series, “Elder Scrolls V: Skyrim” and “Doom” franchises. Those games could help Microsoft break into the console war.

Correction: Kyle Vikstrom, Microsoft’s director of investor relations, says the company expects to generate more than $ 200 billion in gaming revenue by 2021. An earlier version of the story said it expected 2020.