Microsoft Posts Financials For Quarter Ending December 31, 2016

Posted: Jan 27 2017, 5:22am CST | by , in News | Latest Business News


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Microsoft posts financials for quarter ending December 31, 2016

Microsoft's Azure revenue grew 95%

Microsoft has announced its financials for the quarter that ended on December 31, 2016. The overall revenue for the company was $24.1 billion GAAP and $26.1 billion non-GAAP. Microsoft has operating income of $6.2 billion GAAP and $8.2 billion non-GAAP. Net income was $5.2 billion GAAP and $6.5 billion non-GAAP. Diluted earnings per share were $0.66 GAAP and $0.83 non-GAAP.

Microsoft completed its purchase of LinkedIn Corporation on December 8, 2017 and the results for that acquisition are figured into these quarterly results. Microsoft says that the amortization of acquired tangible assets for that purchase contributed revenue of $228 million, operating income of $201 million, net income of $100 million, and diluted earnings per share of $0.01.

"Our customers are seeing greater value and opportunity as we partner with them through their digital transformation," said Satya Nadella, chief executive officer at Microsoft. "Accelerating advancements in AI across our platforms and services will provide further opportunity to drive growth in the Microsoft Cloud."

Microsoft breaks the income out a bit more showing that it's Productivity and Business processes revenue was $7.4 billion, an increase of 10%. Intelligent cloud was up 12% to $6.9 billion. Personal computing revenue was $11.8 billion, down 5% with the decrease blamed on lower phone revenue. Microsoft sold its feature phone business in November 2016. One of the highlights of Microsoft's numbers was its Azure revenue with an increase of 93% thanks to Azure usage more than doubling year over year.

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