JAKARTA - Microsoft recently met its sales expectations in the third quarter and beat profit forecasts as its cloud computing business thrives. However, its shares fell as investors expected a stronger performance from the company.
The company, based in Redmond, Washington, has become one of the most valuable companies in the world, valued at $ 2 trillion after its shares surged 50 percent over the past year as it entered the fast-growing cloud computing market.
During the pandemic, Microsoft was still at the forefront of its software, Teams. The Windows operating system for PC, however, has shrunk over the decades as smart phones have proliferated.
Quoting Business Today, Microsoft Azure cloud services managed to beat Amazon Web Services, and become the productivity software used by businesses around the world.
According to data from Refinitiv, Microsoft's adjusted earnings and earnings per share for the third quarter ended March 31 yesterday were $ 41.7 billion and $ 1.95 per share, above analyst estimates of $ 41.03 billion and $ 1. , 78 US dollars per share.
Initially, Microsoft shares fell as much as 3.2 percent after the results were released, but they reduced the loss to 1.7 percent, at $ 257.50, after Microsoft executives gave a better-than-expected forecast during a conference call with investors.
Meanwhile, sales of commercial clouds containing server infrastructure such as Azure along with cloud-based versions of Office software increased 33 percent to 17.7 billion US dollars.
Microsoft continues to duplicate cloud-based software and said earlier this month it would buy artificial intelligence software company Nuance Communications Inc for $ 16 billion.
Refinitiv also reported that overall sales in Microsoft's smart cloud unit containing Azure were 15.1 billion US dollars, above analyst estimates of 14.92 billion US.
It is estimated that in the fourth quarter, Microsoft will get an increase in sales for its smart cloud and personal computing business which are US $ 16.32 billion and US $ 13.80 billion respectively.
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