MICROSOFT PROFITS SOAR AS CLOUD DEMAND CONTINUES IN PANDEMIC
AppleMagazine|AppleMagazine #496
Microsoft’s profits soared during the first three months of 2021, thanks to ongoing demand for its software and cloud computing services during the pandemic.
The company reported fiscal third-quarter profit of $14.8 billion, up 38% from the same period last year.

“Over a year into the pandemic, digital adoption curves aren’t slowing down. They’re accelerating, and it’s just the beginning,” CEO Satya Nadella said in a statement.

Net income of $1.95 per share beat Wall Street expectations. Analysts were expecting Microsoft to earn $1.78 per share on revenue of $41 billion for the fiscal quarter ending in March, according to FactSet.

The software maker based in Redmond, Washington, posted revenue of $41.7 billion in the January-March period, up 19% from last year.

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