Microsoft Cloud Flagship Posts their Growth Below 50%

Microsoft Cloud Flagship Posts their Growth Below 50%

Microsoft Corp’s flagship cloud computing business Azure has recently reported a good quarterly growth. Revenue in Microsoft’s Intelligent Cloud segment has shot by 17% to $13.4 billion, with 47% growth in the Azure component, and this includes essential storage and computing services. Analysts on average expected cloud revenue of $13.09 billion in the last quarter ended June 30, confirmed the IBES data from Refinitiv.

Clearly, enterprises are investing in cloud technology for remote workers, and Microsoft’s
forecast for some versions of its Office software have slightly missed out on the expectations because of weak sales to struggling SMEs.

Beyond Azure, Microsoft’s results indicate how the novel coronavirus is both hurting and helping Microsoft.

To Read More: Reuters