Microsoft has released its latest financial results , revealing that its Azure cloud computing is continuing to push the company to new heights.
According to newest company figures, revenue growth for Azure was 64 per cent in Q4 2019. Previous quarters have seen an 89 and 73 per cent growth, respectively.
The company doesn’t share specific revenue figures for Azure, so we can’t tell how much money it actually made. We do know that its ‘intelligent cloud unit’, which Azureis a part of, had $11.4 billion in revenue, beating analysts’ expectations of $11 billion.
It holds a 14.6 per cent market share, ahead of Google, but well behind market leaders Amazon.
Analysts’ estimations have been beaten for both revenue and profit, despite Azure’s revenue growth slowing down.
Its productivity software unit earned 14.3 per cent more money this quarter, hitting $11.05 billion, again beating analysts’ expectations of $10.71bn. The figures are showing that both LinkedIn and Office 365 have had double-digit growth in revenue.
The Windows division also seems to be earning more, as it hit $11.3 bn, ahead of what analysts expected with $10.98bn.
“The pressure was obviously on but they executed,” said Hal Eddins, chief economist for Microsoft shareholder Capital Investment Counsel. “The cloud is such a key driver of growth for them and they seem to have painted a big bullseye on the back of AWS.”