Microsoft Corp. (NASDAQ: MSFT) on Tuesday reported higher revenues and earnings for the first quarter of 2021. The results also topped expectations and the software giant’s shares rose during the extended trading session.
At $37.2 billion, first-quarter revenues were up 12% from the comparable period of fiscal 2020 and above analysts’ forecast. Server products and cloud services revenue avanced 22%, with Azure revenue gaining 48%.
Net income came in at $13.9 billion or $1.82 per share in September-quarter, compared to $10.7 billion or $1.38 per share in the first quarter of 2020. The bottom-line also came in above estimates.
Commenting on the results, Microsoft’s CEO Satya Nadella said, “The next decade of economic performance for every business will be defined by the speed of their digital transformation. We are innovating across our full modern tech stack to help our customers in every industry improve time to value, increase agility, and reduce costs.”
Microsoft’s shares gained on Tuesday evening as the strong results spurred a rally, after closing the regular session higher.
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