Microsoft FY18 Q1 earnings: Surface and Windows up; phone still immaterial

Microsoft FY18 Q1 earnings: Surface and Windows up; phone still immaterial

Microsoft FY18 Q1 earnings: Surface and Windows up; phone still immaterial

Office products were also a highlight of the quarter, with commercial Office and consumer Office revenues up by 10 percent and 12 percent, respectively. Productivity revenue, mainly Office software, climbed 28 percent to $8.2 billion.

Three quarters before a self-imposed deadline to achieve $20 billion in annualized revenue from its commercial cloud products and services, Microsoft announced Thursday that it had achieved that goal. "Our results reflect accelerating innovation and increased usage and engagement across our businesses as customers continue to choose Microsoft to help them transform". As usual, things like Surface, Office 365, cloud services like Azure, and Windows all saw growth.

Microsoft's shares had risen almost 27 per cent this year through Thursday, eclipsing the 14.4 per cent gain in the broader S&P 500.

Microsoft beat analyst expectations, which predicted $23.56 billion in revenues.

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Microsoft shares rose 3.4 percent to $81.40 in extended trading following the report, after closing at $78.76 in NY.

As you can see from the image above, the biggest areas of growth, in terms of percentage, are Azure, Dynamics 365, and Office 365 commercial. Office consumer products and cloud revenues rose 12%, while Dynamics products and cloud revenues rose 13%, including a 69% increase in Dynamics 365 revenue. With no new console on sale, revenue is sure to be hard to come by as the company looks to invigorate its smaller user base into more digital transactions.

Microsoft didn't break out specific revenue figures for the devices, but noted that Surface revenue gained 12% in the quarter. In the quarter, LinkedIn added $1.14 billion in revenue and posted a $294 million operating loss. Windows OEM revenue was also up 4 percent and search advertising revenue increases 15 percent. Microsoft did say that revenue from Xbox software did go up by 21 percent, so it seems that current owners are spending some money on the platform at least.

The technology giant's net income rose to US$6.58b in the first quarter, from US$5.67b a year earlier.

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