INTERNATIONAL – Microsoft on Thursday announced a big increase in both revenue and net income, which stood at 33.7 billion US dollars and 13.2 billion dollars respectively for the fourth quarter of its fiscal year.
In its financial results report for the fourth quarter of its 2019 fiscal year, which ended on June 30, Microsoft disclosed the better-than-expected quarterly earnings as its revenue went up 12 percent over the same period of a year ago.
Net income rose 21 percent over the 2018 count and operating income grew 20 percent from the previous year to reach 12.4 billion dollars, said the company.
"It was a record fiscal year for Microsoft, a result of our deep partnerships with leading companies in every industry," said Satya Nadella, chief executive officer of Microsoft.
Microsoft reported earnings per share of 1.37 dollar, above the 1.21-dollar Wall Street consensus.
The company's shares rose 2 percent after it released the results that beat market expectations Thursday.
Microsoft attributed the strong quarterly performance to continued growth in cloud services and businesses.
"Q4 commercial cloud revenue increased 39 percent year-over-year to 11.0 billion dollars, driving our strongest commercial quarter ever," said Amy Hood, executive vice president and chief financial officer of Microsoft.
Revenue in Intelligent Cloud stood at 11.4 billion dollars, up 19 percent year on year, with server products and cloud services revenue jumping by 22 percent, driven by Azure revenue growth of 64 percent, said the company.