The Strategist

Microsoft's quarterly revenue up by 17%

01/28/2021 - 02:41

Microsoft's revenues reached $43.1 billion in the latest quarter, up 17% from the same period last fiscal year.

Net income was up 33% ($15.5bn) and operating income – up 29% ($17.9bn).

"Growing demand for our wide range of products drove cloud revenue up 34 percent year over year to $16.7 billion," Chief Financial Officer Amy Hood said in a press release.

Satya Nadella, chief executive officer of the corporation, said that the financial success is largely explained by the demand for cloud services.

Microsoft was founded in 1975 by Bill Gates and Paul Allen. Today it is one of the largest software corporations. 

Its divisions produce Xbox gaming consoles as well as Surface tablets and other devices. Microsoft Azure is the company's cloud service and has one of the largest market shares (19-27% according to various sources).