Microsoft said the coronavirus pandemic has increased demand for its flagship products, reporting quarterly earnings Wednesday that beat Wall Street expectations.
The software giant said an ongoing trend of working and learning from home has fueled increased demand for its cloud computing services and workplace productivity products, such as email and video conferencing.
But the pandemic has also slowed sales of those products to smaller businesses, and eaten into the advertising revenue that powers its LinkedIn career networking service.
Microsoft on Wednesday reported fiscal fourth-quarter profit of $11.2 billion, or $1.46 per share, beating Wall Street expectations of $1.34 a share.
It posted revenue of $38 billion in the April-June period, up 13% from last year. Analysts had been looking for revenue of $36.5 billion, according to FactSet.
The company said its commercial cloud business surpassed $50 billion in More