The Productivity and Business Processes segment, which includes Dynamics, LinkedIn, and Office, had sales of $ 12.32 billion. That’s up 11% and more than the FactSet consensus of $ 11.78 billion.
Revenue in the More Personal Computing segment with search engine advertising, Surface, Windows and Xbox was $ 11.85 billion. That means the segment’s revenue is up 6% year-over-year and above the consensus of $ 11.18 billion among analysts surveyed by FactSet. Windows device manufacturer revenue declined 5% in the quarter. Tech industry research firm Gartner estimated that PC shipments were up 3.7% year over year in the third quarter, the fastest growth in the US in a decade.
The commercial cloud product collection, including Azure, Dynamics 365, commercial LinkedIn, and Office 365 services, had sales of $ 15.2 billion, nearly 41% of total sales, up from roughly 38% in the previous quarter.
This is the first quarter that Microsoft has benefited from a change in accounting that extended the life of its server equipment from three to four years.
Regarding the forecasts, the analysts surveyed by Refinitiv expect sales of 40.43 billion US dollars in the second quarter, which corresponds to a growth of 9.5%.
In the quarter, Microsoft announced the acquisition of Zenimax Media, the company that operates video game franchises like Doom and Quake, valued at $ 7.5 billion. Microsoft was unable to reach an agreement with the TikTok video sharing app.
In January, Microsoft announced its goal to be carbon negative by 2030, which would mean removing more carbon than it emits. In the first quarter of its fiscal year, Microsoft announced an update that an internal carbon tax had been extended to all parts of its business and updated its supplier code of conduct so that suppliers must specify their emissions.
The company will provide guidance and review results for the quarter in a conference call with analysts starting at 5:30 pm Eastern Time.
Microsoft shares are up around 36% since early 2020, while the S&P 500 is up 5% over the same period.
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