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Microsoft reported strong third quarter results as its commercial cloud revenue hit a $38.4 billion run rate.
The software and cloud giant reported third quarter net income of $8.8 billion, or $1.14 a share, on revenue of $30.6 billion, up 14 percent from a year ago.
Wall Street was expecting Microsoft to report fiscal third quarter revenue of $29.84 billion with earnings of $1 a share.
Commercial cloud revenue was $9.6 billion in the third quarter, up 41 percent from a year ago. Revenue in Microsoft’s productivity and business processes unit was $10.2 billion as commercial Office revenue grew 12 percent.
Intelligent cloud revenue was $9.7 billion, up 22 percent. Azure growth is decelerating a bit.
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Key facts and figures include:
Office consumer products revenue were up 12 percent. Subscribers to Office 365 Consumer were 34.2 million. LinkedIn revenue was up 27 percent and Dynamics sales grew 13 percent. Azure revenue was up 73 percent in the third quarter. Surface revenue was up 21 percent. On the Windows front, commercial products and cloud services saw revenue jump 18 percent with OEM sales up 9 percent. Search advertising excluding traffic acquisition costs were up 12 percent.
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