Microsoft posted a quarterly earnings report which was quite above anyone’s expectation. The growth was seen for the partnership with companies on cloud computing services. The United States technology leader has shifted its business from consumer tech to business services. It was reported that its net incomes were $13.2 Billion on revenue which is at 49 percent and it was up by $33.7 billion which is 12 percent.
This profit is also due to the $2.6 billion tax benefits which are a significant part of the fourth-quarter profit. And the results shown in the fourth quarter is the strongest commercial every for Microsoft according to the CFO Amy Hood.
The Chief executive of Microsoft, Satya Nadella said that the results are great for the tech company which has larget market value for any company. Due to the partnership with leading companies from every industry, this is termed as record fiscal year for Microsoft.
After working alongside its customers every day the company is able to achieve more success and enhance their services. With the support of various other companies and regular improvement, the companies are going to keep their momentum in the coming time to enhance their technologies. Net income for the fiscal year doubled up to $39.2 billion while Microsoft share rose to $138.35.
Xbox has a disappointing quarter
While Microsoft has an impressing quarter the same cannot be said for the Xbox. The revenue for Xbox was dropped 10 percent which is not surprising for some people. As the gaming console debuted 6 years ago, since then it has lost its charm and many people are waiting for its next version. The new Xbox is planned to be released somewhere around the Christmas in 2020.