Wednesday, May 29, 2024

Profit jump for Microsoft


Microsoft exceeded expectations and increased profits by 20 percent in the first quarter. Illustration photo: Michel Euler / AP / NTB

Of NTB | 26.04.2024 01:12:15

Economy and business: While analysts expected earnings of $2.8 per share after tax, the bottom line showed $2.94 per share when the company presented its quarterly results after the stock markets closed on Thursday.

The income in the first three months of the year was 61.9 billion dollars, which corresponds to just under 680 billion kroner at today’s exchange rate. This is a growth of 17 per cent from the same period last year. The IT company beat expectations for turnover by exactly 1 billion dollars.

Revenue for the company’s cloud services increased by 21 percent to $26.7 billion, while software such as the Office suite generated revenue of $29.6 billion, 12 percent more than a year ago. Another classic core product, the Windows operating system, contributed to the company’s PC division ending with 15.6 billion in revenue, an increase of 17 percent.

The market reacted positively to the quarterly figures, and the Microsoft share rose 4 per cent in after-market trading when the results were presented.

(© NTB)


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