Microsoft’s Cloud Services Fuel 2Q Sales Beat; Shares Rise
Microsoft Corp. reported stronger-than-expected 2Q results (ending
Dec. 31, 2020), driven by demand for its cloud computing services
during the coronavirus pandemic. Shares of the software company
increased 3.7% in Tuesday’s extended trading session. Microsoft’s
(MSFT) 2Q earnings of $2.03 per share increased 34.4%
year-over-year and crushed the analysts’ expectations of $1.64 per
share. The tech giant's 2Q revenue grew 16.8% to $43.1 billion
year-over-year and topped the consensus estimates of $40.2 billion.
Microsoft’s CFO Amy Hood said, “Accelerating demand for our
differentiated offerings drove commercial cloud revenue to $16.7
billion, up 34% year over year.