Microsoft Corp. (NASDAQ: MSFT) reported its financial results for the quarter ended March 31, 2020 today. The results came in above the analysts’ expectations.
Microsoft posted a 22% jump in earnings for the third quarter of 2020 helped by higher revenue. In the latest quarter, COVID-19 had a minimal net impact on total company revenue.
In the Productivity and Business Processes and Intelligent Cloud segments, cloud usage increased, particularly in Microsoft 365 including Teams, Azure, Windows Virtual Desktop, advanced security solutions, and Power Platform, as customers shifted to work and learn from home.
In the final weeks of the quarter, there was a slowdown in transactional licensing, particularly in small and medium businesses, and a reduction in advertising spend on LinkedIn. The effects of COVID-19 may not be fully reflected in the financial results until future periods.
Web meeting platform Zoom Video Communications (NASDAQ: ZM) reported a multi-fold surge in third-quarter revenues, reflecting the growing demand for remote conferencing services during the shutdown. Both the top-line and
Fastly, Inc. (NYSE: FSLY) has been expanding its footprint in edge computing, a largely untapped tech segment that got a boost from the mass shift to digital platforms during the
The recent optimism about economic recovery waned slightly this week after jobless claims increased more-than-expected to about 778,000 amid concerns over a resurgence in coronavirus cases. With the healthcare system