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Microsoft announces higher than expected financial results led to higher shares
It announced that Microsoft announced its financial results for the third quarter of this year, which was higher than expected for the ninth consecutive quarter, thanks to growing demand for its products from the cloud, sending its shares higher in trading after the close on Thursday.
Microsoft has worked, under CEO Satya Nadela management, to turn its focus to software and services cloud with slowing demand for the Windows operating system because of weak personal computer market.
The good results led to the US software company to its shares rise by about 9.8% to US $ 52.75 in trading after the closing, the highest since March / March 2000. Moreover, Microsoft has worked to reduce costs and streamline its operations to focus on the most profitable products.
In the latest operation to reduce costs, Microsoft laid off 1,000 employees, or about 1% of its workforce, to add to the process of demobilization of 7,800 employees the company had announced last July.
It rose Microsoft revenue from cloud computing services, which include products, such as “Windows Server”, and platforms based on the cloud, such as “Azure” Azure, by 8% to $ 5.9 billion, and is expected to reach between 6.2 to 6.3 billion dollars during the current quarter.
Apart from the impact of a stronger dollar, revenue in the business increased by 14%, which represents about 29% of total revenues in the third quarter, which includes the months July, August / August and September / September.Viewing:-115
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