Categories Earnings, LATEST, Technology

Microsoft tops Q2 revenue and earnings estimates

Microsoft Corporation (NASDAQ: MSFT) beat revenue and earnings estimates for the second quarter of 2020, allowing shares to gain 2% in aftermarket hours on Wednesday.  

Total revenue rose 14% year-over-year to $36.9 billion, surpassing forecasts of $35.6 billion.  

Microsoft beat Q2 2020 revenue and earnings estimates

GAAP net income increased 38% to $11.6 billion and EPS increased 40% to $1.51. Analysts had projected earnings of $1.32 per share.

Revenue in Productivity and Business Processes increased 17% to $11.8 billion in the quarter. The company saw double-digit increases in Office Commercial and Consumer products and cloud services. LinkedIn revenue increased 24%.

“Strong execution from our sales teams and partners drove Commercial Cloud revenue to $12.5 billion, up 39% year over year,” said Amy Hood, EVP and CFO.

Also read: McDonald’s Q4 2019 Earnings Report

In the Intelligent Cloud segment, revenue rose 27% to $11.9 billion, driven by growth in Server products and cloud services as well as Enterprise Services. Azure revenue grew 62% year-over-year.

Revenue in More Personal Computing grew 2% to $13.2 billion with growth across all divisions except Xbox content and services which decreased 11%.

Microsoft returned $8.5 billion to shareholders in the form of share repurchases and dividends in the second quarter of 2020.

Listen to on-demand earnings calls and hear how management responds to analysts’ questions

Most Popular

Earnings Preview: What to look for when Broadcom (AVGO) reports Q1 results

Broadcom, Inc. (NASDAQ: AVGO) will be releasing its first-quarter results next week. Over the years, the company constantly broadened its portfolio beyond semiconductors to areas like enterprise software solutions, a

Here’s a look at Lowe’s (LOW) expectations for the near term and ahead

Shares of Lowe’s Companies, Inc. (NYSE: LOW) were up over 1% on Friday. The stock has gained 19% over the past three months. The home improvement retailer saw sales and

TJX Companies (TJX) Q4 2024 profit jumps on strong revenue growth

The TJX Companies, Inc. (NYSE: TJX) has reported a double-digit increase in net income for the fourth quarter of 2024 when the fashion retailer's net sales grew 13%. Fourth-quarter sales

Add Comment
Loading...
Cancel
Viewing Highlight
Loading...
Highlight
Close
Top