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

V Earnings: Key quarterly highlights from Visa’s Q1 2023 financial results

Visa Inc. (NYSE: V) reported first quarter 2023 earnings results today. Net revenues grew 12% year-over-year to $7.9 billion. GAAP net income rose 6% to $4.2 billion while EPS grew

Earnings: Highlights of Intel’s (INTC) Q4 2022 financial results

Intel Corporation (NASDAQ: INTC) Thursday reported a decline in adjusted earnings and revenues for the fourth quarter. The semiconductor giant also provided guidance for the first quarter of 2023. Fourth-quarter

McCormick (MKC) expects to drive sales growth in 2023 through pricing actions and cost savings

Shares of McCormick & Company Inc. (NYSE: MKC) were down over 5% on Thursday after the company missed expectations on its fourth quarter 2022 results and provided a lower-than-expected earnings

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