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Microsoft logs 17% revenue growth riding on cloud business
San Francisco, Jan 27 (IANS) An impressive growth in its Azure Cloud business in a pandemic-hit year helped Microsoft post a 17 per cent increase in its revenue which reached $43.1 billion, with declaring a net income of $15.5 billion, for the quarter ended December 31, 2020.
Microsoft stock rose as much as 6 per cent in extended trading on Tuesday.
"What we have witnessed over the past year is the dawn of a second wave of digital transformation sweeping every company and every industry," said Microsoft CEO Satya Nadella.
"Building their own digital capability is the new currency driving every organisation's resilience and growth. Microsoft is powering this shift with the world's largest and most comprehensive cloud platform," he said in a. statement.
Revenue in Intelligent Cloud was $14.6 billion and increased 23 per cent (on-year).
Server products and cloud services revenue increased 26 per cent driven by Azure revenue growth of 50 per cent, Microsoft informed.
"Accelerating demand for our differentiated offerings drove commercial cloud revenue to $16.7 billion, up 34 per cent year over year," said Amy Hood, executive vice president and CFO, Microsoft.
"We continue to benefit from our investments in strategic, high-growth areas."
The company said that the revenue in Productivity and Business Processes was $13.4 billion and increased 13 per cent (On-year).
"Office Commercial products and cloud services revenue increased 11 per cent driven by Office 365 Commercial revenue growth of 21 per cent.
LinkedIn revenue increased 23 per cent while Dynamics products and cloud services revenue increased 21 per cent, driven by Dynamics 365 revenue growth of 39 per cent.
Revenue in More Personal Computing was $15.1 billion and increased 14 per cent.
Xbox content and services revenue has increased by 40 per cent compared to the same quarter last year. Microsoft's overall gaming revenue was up 51 per cent.
Surface laptop revenue increased 3 per cent and Search advertising revenue excluding traffic acquisition costs increased 2 per cent.
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Petrol, diesel prices steady even as crude boils
New Delhi, March 6 (IANS) Oil marketing companies have spared consumers of yet another petrol and diesel price hike even though the global oil market is on the boil with crude reaching within touching distance of year-high-level of $70 a barrel.
Petrol continues to be priced at Rs 91.17 a litre and diesel Rs 81.47 a litre in the capital on Saturday. Across the country too, the petrol and diesel price remained unchanged.
This is seventh consecutive day when pump prices of auto fuels have remains unchanged.
After a spike in global oil prices seen over last two weeks with crude price jumping close to $67 a barrel, prices had fallen to around $63 a barrel but it rose again to cross $69 a barrel mark now after after the OPEC+ decision to continue with crude production cut in April.
Petrol and diesel prices have been rising continuously since February 9. In the 14 increases since then, price have gone up by Rs 4.22 per litre for petrol while diesel rate has risen by Rs 4.34 a litre in Delhi.
The increase in the previous weeks has taken petrol to cross historic high levels of Rs 100 a litre in several cities across the country.
The petrol and diesel prices have increased 26 times in 2021 with the two auto fuels increasing by Rs 7.46 and Rs 7.60 per litre, respectively so far this year.
Oil companies executives said that petrol and diesel prices may increase further in coming days as retail prices may have to be balanced in line with global developments to prevent OMCs from making loss on sale of auto fuels.
--IANS
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