Microsoft's revenue and profits increased in the quarter

While the revenue of US technology company Microsoft increased by 15 percent in the April-June period, its net profit increased by 10 percent. The increase in cloud revenues fell short of expectations Microsoft, which accepts the three-month period ending June 30 as the 4th quarter in its financial calendar, announced its balance sheet. Accordingly, the company's revenue increased by 15 percent in the April-June period compared to the same period of the previous year, reaching 64.7 billion dollars. Microsoft had revenue of 56.2 billion dollars in the April-June period of last year. The company's revenue exceeded market expectations during this period. Microsoft's net profit also increased by 10 percent in the same period, reaching 22 billion dollars. The company's net profit was 20.08 billion dollars in the same period of the previous year. The company's earnings per share increased from 2.69 dollars to 2.95 dollars during this period. Microsoft's profit also exceeded market expectations during the period in question. Cloud revenue growth falls short of expectations The company’s Intelligent Cloud revenue increased by 19 percent year-on-year to $28.5 billion in the April-June period, but fell short of market expectations. The company’s revenue from Azure and other cloud services increased by 29 percent during this period. The increase in Azure and other cloud services, which was 31 percent in the previous quarter, fell short of market expectations. Microsoft CEO Satya Nadella, in his assessment of the company’s balance sheet, stated that the company’s strong performance reflects both its innovation and the trust customers have in Microsoft. Nadella said, “As a platform company, today we are focused on meeting our customers’ mission-critical needs across our large-scale platforms, enabling us to lead the age of AI.”