Microsoft’s shares rose on Wednesday after the company posted its financial results for the third quarter of 2019.
According to the report, the company has had revenue of $30.6 billion, and has reported $8.8 billion in net income. This means Microsoft has had its revenue jump 14 per cent year-over-year, while net income jumped 19 per cent.
The bulk of these earnings came from Cloud and Office, but also from Xbox, Surface and Windows. Office revenue increased 12 per cent year-on-year. The company said it now has more than 180 million active Office 365 business users, a month. Outlook for iOS and Android have more than 100 million users now.
Even though there haven’t been new Surface products lately, the ones that are on the market are still selling nicely. Revenue for the line up rose 21 per cent year-on-year, up to $1.3 billion.
Gaming revenue is up five per cent. There’s still no ETA for the xCloud streaming service, though.
Microsoft also said it had a ‘better than expected Q3 commercial PC demand’, which means the drop during the holiday season was offset now.
OEM Pro revenue rose 15 per cent, while non-Pro revenue went down by a single percentage point.
The company also said it ‘improved chip supply’, which helped PC shipments.
More details about the financial results for the quarter can be found on this link.
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