Sci-tech

Microsoft weathers pandemic, revenue up 13% in June quarter

Microsoft weathers pandemic, revenue up 13% in June quarter”

This contributed to the company's $38.0 billion in total revenue for the fourth quarter, a 13% increase year-over-year. But the group's net income fell to $11.20 billion, or $1.46 per share, from $13.19 billion, or $1.71 per share, a year earlier.

Some of the key announcements made during the event include enhancements to Azure Lighthouse by bringing Multi-Factor Authentication and Privileged Identity Management support; Azure Stack HCI, the latest in Microsoft's hybrid portfolio and now in public preview, that brings hybrid capabilities to customers' datacenters while enabling them to leverage existing skills and investment; and new bundled services for Lenovo Managed Services that are created to help small- and medium-sized businesses support Microsoft software productivity, security, and collaboration.

"Organizations that build their own digital capability will recover faster and emerge from this crisis stronger". Network with peers in the networking lounge, speed networking, exhibit hall, fun networking, games, and parties! Microsoft said revenue from its commercial cloud operations surpassed $50 billion for the first time ever in the latest fiscal year.

Meanwhile, the price of business enterprise bookings - an critical indicator of foreseeable future profits - grew by 12 for every cent.

Investors pushed Microsoft's stock 29 per cent higher in the June quarter.

The revenue of LinkedIn that has announced to lay off almost 1,000 people increased 10 per cent.

More news: Oil prices steady as weak dollar balances low demand

Revenue in Intelligent Cloud was $13.4 billion, a 17% increase year-over-year, representing increased cloud usage and demand. Those numbers also represented a less rosy picture than the previous quarter, when commercial cloud revenue rose 39 per cent and margins improved by 4 per cent.

Revenue from the unit, the largest by sales, rose 14 per cent to US$12.9 billion, beating analysts' estimates of US$11.46 billion.

Surface revenue increased 28%, while search advertising revenue decreased 18%.

On June 26, Microsoft said it would close its brick and mortar stores, which led to a one-time charge of $450 million, or 5 cents per share.

Though not noted in the financial report, Microsoft replaced dozens of jobs in editorial by using AI to aggregate news for Microsoft News, MSN and Microsoft Edge. That forecast was slightly lower than the $35.91 billion that analysts had projected, according to Refinitiv. The shares, which had risen 1.4 per cent to US$211.75 on Wednesday in NY trading, fell as low as US$204.52 in extended trading. Additionally, to deliver a more secure workplace, the new Microsoft Endpoint Data Loss Prevention in Microsoft 365 will help customers identify and protect information on endpoints.



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