This archive report was first published on 23 October 2019.
On October 23, 2019, Microsoft released its quarterly earnings figures, revealing a significant boost in profits.
The company's cloud computing business was a major contributor to this growth, with revenue increasing 14% to $33.1 billion compared to the same period the previous year.
"The world's leading companies are choosing our cloud to build their digital capability," said Microsoft chief executive Satya Nadella.
Cloud services revenue rose by over a third to $11.6 billion, according to chief financial officer Amy Hood, while LinkedIn revenue increased by 25%.
Microsoft shares saw a marginal increase in after-market trades following the release of the earnings figures.
Under Nadella's leadership, Microsoft has shifted its focus to cloud computing and business services, resulting in a $1 trillion valuation and a market value equal to that of rival Apple.
