Microsoft beats revenue expectations, reporting 22% growth – CNBC

Satya Nadella, chief executive officer of Microsoft Corp.David Paul Morris | Bloomberg | Getty ImagesMicrosoft shares edged 2% higher in extended trading Tuesday after the software and hardware maker reported fiscal first-quarter earnings that exceeded analysts’ estimates.Here’s how the company did:Earnings: $2.27 per share, adjusted, vs. $2.07 as expected by analysts, according to Refinitiv.Revenue: $45.32 billion, vs. $43.97 billion as expected by analysts, according to Refinitiv.Total company revenue climbed almost 22% year over year, according to a statement. That’s the fastest growth since 2018. Revenue grew 21% in the previous quarter. Microsoft reported $20.5 billion in net income, growing 48%.With respect to guidance, Microsoft called for $50.15 billion to $51.05 billion in fiscal second-quarter revenue. That works out to $50.60 billion at the middle of the range, passing the $48.92 billion consensus among analysts polled by Refinitiv.Microsoft’s Intelligent Cloud segment — which comprises the Azure public cloud, enterprise services, GitHub, SQL Server, System Center, Visual Studio and Windows Server — delivered $16.96 billion in revenue, which was up 31% year over year. That’s more than the $16.51 billion consensus estimate among analysts polled by StreetAccount.Microsoft said Azure and other cloud services grew 50% year over year in the quarter. Microsoft’s…
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