Microsoft sees revenue grow in latest financial results
The technology giant pointed to growth in its Office and Xbox products as key factors in the figures.
Microsoft revenue has increased 17% in the last year to more than 30 billion dollars, the technology firm revealed in its latest financial results.
The US firm reported total revenue of 30.1 billion dollars (£23.1bn) for the last three months, up from 25.6 billion dollars (£19.7bn) at the same stage in 2017.
The company also confirmed net income of 8.8 billion (£6.8bn).
$MSFT Q4 EARNINGS— Microsoft (@Microsoft) July 19, 2018
Revenue: $30.1 billion 🔺17%
Gross Margin 🔺19% YoY
Net Income: $8.8 billion
Chief executive Satya Nadella said the results were proof the company was on the right path.
“We had an incredible year, surpassing $100 billion in revenue as a result of our teams’ relentless focus on customer success and the trust customers are placing in Microsoft,” he said.
“Our early investments in the intelligent cloud and intelligent Edge are paying off, and we will continue to expand our reach in large and growing markets with differentiated innovation.”
The results beat analyst expectations, which had anticipated revenue to be around 27.5 billion dollars.
Microsoft Office, the technology giant’s suite of productivity apps which can also be accessed via the cloud through Office 365, saw consumer revenue increase 8% the company said – thanks to consumer subscriptions rising to more than 31.4 million.
Xbox, the gaming arm of Microsoft, also reported a revenue increase of 36%, which the firm said was down to its software and services, as well as the strength of the gaming catalogue on the platform.
Professional social network LinkedIn, which Microsoft acquired in 2016, saw its revenue increase by 37%, the firm said.