Categories AlphaGraphs, Earnings, Technology
Microsoft’s cloud business grows 23% in Q3: Infographic
Azure revenue grows 50% in Q3, lifting overall revenues above the average analysts' estimate
Microsoft Corp (NASDAQ: MSFT) reported third-quarter 2021 financial results after the regular trading hours on Tuesday. The tech giant reported Q3 revenue of $41.7 billion, up 19% year-over-year and above the Wall Street consensus. The company reported a net income of $1.95 per share, much better than what analysts had anticipated.
MSFT shares fell 3.5% immediately following the announcement. The stock has rallied 50% over the past twelve months.
“Over a year into the pandemic, digital adoption curves aren’t slowing down. They’re accelerating, and it’s just the beginning,” CEO Satya Nadella said in a statement.
“We are building the cloud for the next decade, expanding our addressable market and innovating across every layer of the tech stack to help our customers be resilient and transform,” he added.
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