Microsoft ( MSFT ) on Wednesday reported revenue of $32.5 billion, which was in line with expectations. Earnings per share came in at $1.08 per share versus analysts’ estimates of $1.09 per share. The stock is down 2.5% in after hours trading.
Microsoft’s cloud business, the cornerstone of the company’s pivot to cloud computing, raked in $9.4 billion of revenue in the quarter. That’s an increase of 20%.
The company’s Productivity and Business processes segment, which includes the company’s Office line of software, saw revenue of $10.1 billion. That’s a jump of 13%.
The firm’s More Personal Computing business, which includes Windows, saw $13 billion in revenue, a 7% increase.
Microsoft’s successes in the cloud and its decision to work across multiple devices and operating systems rather than with Microsoft products alone have sent its market value soaring.
Amazon’s ( AMZN ) Amazon Web Services (AWS) is still the top dog in the cloud market, but Microsoft is catching up, and has a solid second-place position with Google ( GOOG , GOOGL ) trailing behind in third.
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