Microsoft’s silver lining is still the cloud
April 24, 2016
Grazed from Farraguter. Author: Editorial Staff.
Cloud computing is seen by many investors as Microsoft’s salvation, a growing business that has convinced many there is a bright future for the company beyond the troubled personal computer (PC) market. Microsoft Corp. said its earnings declined 25% in the third quarter, as the company reported lower operating profits across several of its business lines.
In the earnings call, Microsoft CEO Satya Nadella said the company was working to make Office 365 a world-class productivity and communications service. Its cloud-based businesses also grew significantly, thanks to Nadella’s well-documented focus on the cloud. That marks a 73 percent plunge in Lumia sales year-over-year and follows the 57 percent drop Microsoft endured during the final quarter of 2015…
Microsoft shares closed at $55.78 on Thursday but dropped to below $53 in after-hours trading, representing a more than 5 percent drop. Excluding this impact, and assuming constant currency values, the company says that its revenue was $22.1 billion (up 5 percent), operating income was $6.8 billion (up 10 percent), and net income was $5.0 billion (up 6 percent)…
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