Microsoft posted its quarterly profit and revenue on Thursday that beat analysts’ estimates, as more companies signed up for its cloud services and Office 365 productivity suite.
Revenue for Microsoft’s cloud service, Azure, grew 89% year over year, driving the company’s revenue growth for its server and cloud division to 26%. For years, Microsoft’s booming cloud business has pushed revenues higher. It has benefited from companies rushing to shift their workloads to the cloud to cut data storage and software costs.
“The combination of the cloud, which is a megatrend that’s going to last for years to come, and the execution, this is the company that knows how to sell and be innovative – it’s hard to argue with anything here,” said Tom Taulli, InvestorPlace.com analyst.
The number of organisations adopting cloud services is proliferating: whether that be from a hybrid approach, or going full cloud.
Microsoft also reported strong growth from other areas of its business. Revenue for LinkedIn grew 37 percent from the year-ago quarter. While its Dynamics 365 online business application suite posted a 61 percent increase.
Question: Should Your Business Invest in Microsoft Business Products?
Microsoft business products work together by combining several individual functions into a single enterprise mechanism. Companies are leveraging Microsoft’s business products to save money, enable collaboration and remote work. They also cut down on the need for in-house IT experts. Moreover, having a stable large software partner that invests $ 13 billion every year in R&D is an excellent strategic decision for every business.
To learn more about Business Solutions from Microsoft attend our upcoming exclusive seminars at Microsoft Canada HQ in Mississauga.
August 14 – Microsoft Dynamics 365 for Sales and Marketing.
September 6 – Microsoft Dynamics 365 Business Central