MICROSOFT KEEPS CHUGGING AS PANDEMIC CONTINUES

As the pandemic raged through the U.S., Microsoft’s business continued chugging ahead and beat Wall Street expectations for the last three months of 2020, powered by ongoing demand for its workplace software and cloud computing services as people worked from home.

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The company reported fiscal second-quarter profit of $15.5 billion, up 33% from the same period last year.

In a statement, CEO Satya Nadella called it “the dawn of a second wave of digital transformation sweeping every company and every industry.”

Net income of $2.03 per share beat Wall Street expectations.

The software maker posted revenue of $43.1 billion in the October-December period, up 17% from last year and also beating forecasts.

Analysts surveyed by FactSet were expecting Microsoft to earn $1.64 per share on revenue of $40.2 billion for the fiscal quarter.